Unemployment filings way up, despite new jobs
In what likely seems like a paradoxical result, the latest jobs report from the Department of Labor shows that the economy added 244,000 jobs in April but the unemployment rate still jumped from 8.8 percent to 9 percent.
Jul 31, 2020240.4K Shares3.3M Views
In what likely seems like a paradoxical result, the latest jobs reportfrom the Department of Labor shows that the economy added 244,000 jobs in April but the unemployment rate still jumped from 8.8 percent to 9 percent.
What explains this odd result? The weekly new unemployment claims skyrocketed the last three weeks to a high of 474,000last week, more than offsetting the new jobs created. So for the time being, we’re getting very mixed signals from the key economic measurements.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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