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Filings for unemployment benefits are still roughly double their pre-pandemic norm. There’s reason to believe they’ll never hit those lows — the old “normal” — ever again.
Weekly counts of jobless claims have fallen steadily as more Americans have gotten vaccinated and economic restrictions were reversed. Initial claims most recently came in at 400,000, down slightly from the prior week but still much higher than readings before March 2020.
Claims may never again reach pre-pandemic lows because many Americans simply didn’t know or realize they were eligible for UI before the pandemic. The economic devastation of details ⇒
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