Under Joe Biden’s watchful eye, “first-time claims for jobless benefits have been higher than during the worst moments of the Great Recession.” Last week, Imperial Leader Joe Biden and his Palace economic advisers took credit for another record breaking statistic. A whopping 777,000 Americans filed their first unemployment claim.
Record first time claims
America’s workforce has been on lockdown for a year now. Conservative efforts to open things up and keep businesses going were thwarted by liberal experts at every turn. It was far more important to keep Americans locked at home where they couldn’t talk to each other, at least until the selection was over in November.
Now, the Democrats are firmly in control and the lockdown is still in effect. Without former President Donald Trump to kick around, the Palace owns the record “seasonally adjusted” claims for first-time unemployment benefits.
Economists are worried, politicians are nervous and workers are terrified. Every one of them is betting their future on “the continued vaccine rollout and warmer weather that allows more outdoor social activities.”
Closing down climate controlled indoor dining and forcing everyone to eat outside in cold tents, if they could eat at restaurant at all, wasn’t real good for the economy. The only way to end the claims crisis is open up the businesses again.
The Department of Labor reported on Thursday that “last week, 770,000 Americans filed initial claims for unemployment benefits on a seasonally adjusted basis.”
They make it sound routine, even though that’s a huge jump from the numbers a week before and 70,000 more than government number crunchers expected. Not only that, “it was also nearly 3 times as many” laid off workers than “in the same week last year, just before the pandemic layoffs made benefit claims skyrocket.”
Then there’s the gig workers
Coincidentally, in November, when Biden was selected and Trump still had control of the economy, “Claims fell to their lowest level of the pandemic.” The Imperial Palace isn’t talking about that.
They also aren’t mentioning that separately, “282,394 filed for benefits under the Pandemic Unemployment Assistance program open to the self-employed and gig workers last week.”
Putting the two numbers together adds up to “more than 1 million people” who “filed for first-time benefits last week, without seasonal adjustments.” Then there are the “continued claims.”
Folks who “filed for benefits for at least two weeks in a row” are currently numbered at “4.1 million adjusted for seasonal swings.” Bottom line, “more than 18 million American workers received benefits under the government’s various programs in the week ended February 27.”
There doesn’t seem to be any easy answers and certainly no end in sight. With the Imperial Palace continuing to recommend job killing restrictions, “America’s labor market is still a long way from its pre-pandemic strength,” the media declares.
“Sectors that rely on people coming together, such as hospitality and travel, are still hurting and so are the people who used to be employed in them.” The record breaking claims are expected to continue.