Initial unemployment claims creep up to 260,000

Aug. 4, 2022, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the latest weekly unemployment claims data:

“President Biden’s bitter clinging to the idea that the United States economy is not in recession rests solely on joblessness in America.  Today’s Labor Department weekly unemployment insurance claims report shows the continued weakening of the jobs economy as the number of claims jumped to 260,000 for the final week of July.  In the past four months, initial weekly claims have climbed by 99,000 as the number of layoffs quietly escalate across the nation. The number of Americans who are dependent upon unemployment insurance still remains below, 1.5 million as the drop in numbers of people in the workforce has contributed to many available jobs remaining unfilled.”

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