Jobless claims at lowest point in months

Photo credit Photo by Tim Boyle/Getty Images
By , Audacy

In another positive economic sign for President Joe Biden’s administration ahead of the looming 2022 mid-term elections, jobless claims continued to drop as the summer months waned.

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The number of new applications for unemployment benefits dropped by about 6,000 claims last week.

The continued downward trend has brought the total to around 222,000, the lowest total since June.

The takeaway? Unemployment claims have not climbed to a threshold that would rate as a harbinger of imminent recession.

In addition, the country continues to add jobs nationwide, according to the Labor Department, and the latest numbers mark the fourth straight week that the total of new jobless claims has fallen.

Those numbers could continue to dip further, with a ratio currently of two job vacancies for every unemployed American.

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Featured Image Photo Credit: Getty Images