BEST NEWS ALL YEAR! Unemployment Extension UPDATE

Happy Thursday, which means it’s time to talk about the current state of the US economy and unemployment rates across America in this week’s jobs report from the Department of Labor.

This week’s jobs report displayed amazing news for the economy for a second week in a row, as the actual unemployment figures were lower than last week’s record-breaking numbers, and far exceeded the estimates of the economists from the DOW Jones.

The weekly report showed that 547,000 Americans filed their first-time unemployment claims, which is lower than the previous week’s 586,000 revised initial claims and are also below the 603,000 first-time claims predicted by economists.

Kevin Cummins, the chief U.S. economist at NatWest Markets, explained: “In general, I do think it’s consistent with a strengthening in the labor market. It does feel like things are really starting to rip here.”

Ian Shepherdson, the chief economist at Pantheon Macroeconomics, stated: “last week’s unexpected plunge was no fluke. We expect further declines over the next few months as the reopening continues, while payroll growth will accelerate markedly.”