During his post-meeting news conference, Fed Chairman Jerome Powell noted while the jobs market has staged a remarkable rebound since the unemployment rate spiked to a pandemic high of 14.7 in April, falling to 8.4 percent in August, the Fed will still have the jobless at the forefront of their policy decisions.
Thursday's figure represented the third consecutive week that new jobless claims remained below the psychologically important 1 million level, yet they remain within historically high levels triggered by the COVID-19 pandemic. It was 13.8 percent in July; going into the pandemic it was 3.7 percent.
The numbers come as Democrats and the White House remain deadlocked on the next round of coronavirus stimulus, with supplemental unemployment benefits a major sticking point. But the decrease in the number of jobless people and the jobless rate mainly stemmed from the labor force falling by almost 90,000 people.
Asaro-Angelo called on Congress to find a way to extend the $600 weekly supplement in order to simplify getting people their money, rather than create a new system.
The state's unemployment rate stayed at 8.7 percent last month, the same as it was in July, according to data released Wednesday by the Michigan Department of Technology, Management and Budget.
A separate survey of employer payrolls - the top indicator for economists - also showed hiring was slowing. Businesses reported employing 4.43 million people in August, up about 22,000 from June.
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I'm excited about tomorrow. "We're going to have to figure out, again, better ways to attack, especially late", Stevens said. They got behind, but not too far, and were able to stay within striking distance or in the lead most of the night.
All told, almost 1.6 million New Jerseyans have found themselves out of work since the start of the pandemic, which saw sweeping restrictions on travel, public gatherings and most forms of business, meant to starve the COVID-19 virus of any new potential hosts to infect. New Jersey's unemployment rate also fell to 10.9% in August, the Bureau of Labor Statistics said. Georgia has paid the first three weeks of what will be a total of six weeks, with the second three weeks supposed to go out in coming days.
Claims hit a record 6.87 million for the week of March 27. Economists prefer the unadjusted claims number given earlier difficulties adjusting the claims data for seasonal fluctuations because of the economic shock caused by the coronavirus crisis. However, more than 500,000 people are still collecting regular state unemployment checks.
The department has handled roughly 185,800 initial claims for the state unemployment program and 90,400 initial claims for the federal Pandemic Unemployment Assistance program, it said.
Georgia collects unemployment taxes from businesses to fund its state benefits, but that piggy bank, which stood above $2.5 billion in March, has run dry.
A separate report Thursday showed US home construction starts fell more than forecast in August, representing a pause in momentum for a housing market that's been a key source of fuel for the economy.