Layoffs hit lowest level since 1968, with 166,000 people filing for jobless aid last week
CBSAPR 2022
It's time to celebrate. Jobless claims aren't just back to pre-pandemic levels, they're better. Combined with the low unemployment rate, Biden has brought the economy back.
There's not reason to celebrate. These numbers are a smokescreen when you consider that the worker shortage is leading to higher wages, higher demand for goods and services, and increased inflation. Moreover, the number of people continuing to receive unemployment benefits after their first application actually went up.