Bloomberg News Agency reported that the US Department of Labor. It revealed the number of applicants for unemployment benefits for the first time last week (6 June-12 June 21) at 412,000, up from the previous week (30 May – 5. July 21) at 375,000, the first increase in two months since April and the highest number in a month since May 15.
The U.S. Department of Labor said the main reason for the rise in unemployment claims came from an increase in applicants in the big three U.S. states. These include Pennsylvania, California and Kentucky, although all three states have seen higher employment rates in recent weeks. The Labor Department predicts that the rising number of unemployment claims will be a good sign for the US labor market this month.
The US labor market is facing a crisis. After the unemployment rate in the United States remains high. Despite the current vacancies at 7.6 million, the highest level in a year since February 2020. Part of the reason for the high unemployment numbers in the United States is the $300 weekly unemployment benefit, which has led some unemployed people to choose to get government payments over applying for jobs. Due to the anxiety caused by the outbreak of the COVID-19 virus
US economists expect the US labor market to continue rising until the end of the year. The unemployment rate is expected to fall below 5% by the 4th quarter of 2021.