Jobs Data – October 21, 2021

Washington, D.C. – Jobs data released today show the number of Americans filing new unemployment claims fell to 290,000 in the week ending October 16th, the lowest level since March 2020 and below market expectations of 300,000, as employers retain workers amid a severe labor shortage.

Still, the number of new filings remains significantly higher than pre-pandemic levels of approximately 210 thousand, while the US Labor Department recently reported a record 4.3 million people quitting their jobs in August and a near-record 10.4 million job openings, as workers seek better pay, working conditions, and flexibility.

US jobless claims fell to a new pandemic low of 319.75 thousand in the week ending October 16th, down from a revised 335.00 thousand in the previous period.

Continuing jobless claims in the US fell to a new pandemic low of 2.481 million in the week ending October 9th, down from a revised 2.603 million the week before and below market expectations of 2.550 million.

The number of Americans seeking assistance through the Pandemic Unemployment Assistance program, which covers workers who do not qualify for initial unemployment benefits, decreased to 2.338 thousand in the week ending October 16th, from a revised 21.894 thousand in the previous period.