What’s going on in the labor market after the U.S. faced with COVID-19? How has the situation changed since March? Who can help you, as a merchant, get access to the most suitable merchant loans for your own business wants and needs? No worries. Just read the article below.
Jobless Claims in the U.S. & Merchant Loans
As of September 3, the number of Americans having filed for jobless claims dropped to the lowest point since March when COVID-19 appeared. This is better than what analysts predicted, according to the most recent data from the U.S. Department of Labor (DOL).
DOL reports that the week ending September 19 witnessed 870.000 (advance figure) seasonally adjusted initial claims. This was more by 4.000 from the previous week’s revised rates. These 870.000 Americans filed for 1st-time unemployment benefits, thus leading to an unexpected rise in the number associated with the previous week, which reaffirmed a slowdown in the recovery of the U.S. economy.
What situation are you in? Are you in need of extra working capital to stay afloat and move forward with the fewest possible challenges? This can’t be an issue if you apply to a respectable merchant funding provider in the U.S. Thanks to a trustworthy alternative online lender in the country, you can enjoy the most secure and cheapest possible merchant loans in the space.
What Do the Numbers Show?
During the week ending September 12, there were 954 initial claims for UI benefits filed by the former Federal civilian employees. This was an increase of 1 as compared to the previous week. Newly discharged veterans had filed 794 initial claims, which was a drop of 91 from the prior week.
The week ending September 12 represented the biggest growth in initial claims in:
- Indiana (+1.990)
- Kansas (+1.928)
- Illinois (+1.906)
- Michigan (+1.727)
The biggest drop was registered in:
- California (-17.400)
- Texas (-15.905)
- Louisiana (-8.384)
- Georgia (-8.235)
- Washington ( 3.291)
As you see, the number of employees in the U.S. applying for jobless benefits was at the historically high levels last week. Though jobless claims have dropped as compared to the peak of about 7mil in March, more than 800.000 have been registered in recent weeks.
Author Bio: Michael Hollis is a Detroit native who now lives in Los Angeles. He is an account executive who has helped hundreds of business owners with their merchant loans solutions. He’s experimented with various occupations: computer programming, dog-training, scientificating… But his favorite job is the one he’s now doing full time — providing business funding for hard working business owners across the country.