Unemployment claims broke expectations last week, rising to a two-month high a few weeks after President Joe Biden said the U.S. economy was “going on again. . “
The Department of Labor found that 419,000 Americans filed for initial unemployment benefits in the week ending July 17—20 percent, higher than the 350,000 estimated by economists. .
The two-month high in new jobless claims comes weeks after Biden took out a report in June showing a low pandemic in the number of Americans claiming unemployment benefits.
“No other major economy in the world is growing as fast as ours,” Biden said. “None of this success was an accident. It wasn’t luck.”
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