BREAKING: The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic. The Labor Department said that jobless claims increased last week to 419,000 from 368,000 the previous week.
had sought to end the supplemental aid programs but were blocked by court rulings. Nationally, the programs will all expire in early September.
The long-term decline in applications for jobless aid coincides with accelerating economic growth. The U.S. economy is thought to have expanded briskly during the April-June quarter as Americans, flush with cash from stimulus checks and from stock market and home equity, stepped up their spending.. Retail sales are roughly 20% above pre-pandemic levels.employers added a healthy 850,000 jobs
The June jobs data also suggested that workers were enjoying an advantage as companies, desperate to fill positions, offered higher wages. Average hourly pay rose a solid 3.6% compared with a year earlier. That said, the economy still has 6.8 million fewer jobs than it did before the virus erupted in March of last year.
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