Thursday’s jobless claims showed that the United States continues to shed jobs at an intolerably high rate, with the weekly moving average of unemployment claims totaling 1.6 million. While last month’s Bureau of Labor Statistics Employment report showed a surprising 2.5 million jobs were added to the economy in May, more than 30 million people continue to collect some type of unemployment insurance benefit, indicating the economy has a long way to go before it is restored to the robust pre-pandemic employment landscape.
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