Linkedin Share
News

Pandemic Recovery Gets Boost from Surprisingly Good Jobs Report

Linkedin Share

Americans may very well be on the precipice of a great reopening, and the latest figures from the federal government seem to suggest that the time is nigh.

There’s nothing quite like a global pandemic to offset economic growth, particularly when that pandemic arrives in the form of a highly contagious disease that shuts down almost the entirety of the service industry, along with sports venues, concerts, and even city council meetings.  This economic impact is certainly the most obvious, but for every action, there is an equal and opposite reaction:  As Americans stayed home, they saved money.  That means that, when the economy does reopen, We The People will be raring to go.

The effects of this pop could be enormous.  The end of the 1918 Spanish Flu epidemic was the catalyst for the “roaring twenties” – a period of unmatched American prosperity and decadence.

Now, judging by the numbers we’re seeing this week, a new economic boom might be right around the corner.

The number of Americans filing for first-time jobless aid last week fell to its lowest level since the COVID-19 pandemic erupted in 2020, a sign layoffs are easing as the economy recovers.

Trending:
Massive Migrant Caravan Marches Toward US with LGBT Flags Flying as Mexican President Snubs Biden at Summit

Some 547,000 people applied for unemployment benefits in the week ended April 17, the Labor Department said Thursday. That’s 39,000 fewer than the previous week and the lowest weekly number since March 14, 2020. About 133,000 others applied for Pandemic Unemployment Assistance, a federal program for self-employed and gig workers.

The latest jobless claims figure is far below the roughly 1 million weekly applications the nation saw in January. But it remains more than twice its pre-pandemic level of about 250,000, showing how much further the recovery has to go.

The sky’s the limit at this point, as far as recovery goes; we just need to make sure that the government doesn’t try to unnecessarily stymy our fiscal fortune.

Submit a Correction →



Tags:
, , ,
Linkedin Share
About the Author:
As a lifelong advocate for the dream promised us in the Constitution, Andrew West has spent his years authoring lush prose editorial dirges regarding America's fall from grace and her path back to prosperity. When West isn't railing against the offensive whims of the mainstream media or the ideological cruelty that is so rampant in the US, he spends his time seeking adventurous new food and fermented beverages, with the occasional round of golf peppered in.




Conversation