Labor market improves as jobless claims reduce

Last week 340,000 people filled for unemployment benefits for the first time which is the lowest that the state has witnessed since the onset of the pandemic. This leads us o believe that the job market is on a steady incline as workspaces begin to slowly re-open. This news comes ahead of the much-anticipated jobs report, economists are expecting 750,000 new jobs. The last two months witnessed a steady increase in the number of jobs created with 900,000 jobs per month. Amidst all this, the Delta Variant becomes a concern. Human Resources firm UKG monitors the work shift in over 3.3 million employees shows a decline in the jobs in Southwest where the rate of cases is highest.

Source: U.S.News