Unemployment in America remains a staggering and very real issue. Under the Biden administration, even more U.S. workers have either lost their jobs, will lose their jobs, or will miss out on potential employment opportunities.
The policies of the Biden administration provide clear insight into why. Over one month ago, the 46th president put 11K Americans out of work by bringing down Keystone Pipeline. Biden’s decision to allow big businesses to import foreign workers also means that jobs which would have gone to Americans will now go to foreigners willing to work for cheap rates.
This morning, the Labor Department released fresh data regarding weekly jobless claims; however, Washington Examiner explains that there is more than meets the eye in this particular situation.
The Newest Details from the Labor Department
According to the U.S. Department of Labor, unemployment claims for the week of Feburary 14 through Feburary 20 arrived at 730K. While this marks a significant drop from economists’ projections of 838K jobless claims, there are other factors to be accounted for.
Unemployment Insurance Weekly Claims
Initial claims were 730,000 for the week ending 2/20 (-111,000).
Insured unemployment was 4,419,000 for the week ending 2/13 (-101,000).https://t.co/ys7Eg5LKAW
— US Labor Department (@USDOL) February 25, 2021
The notable drop in unemployment claims is at least partially due to the terrible winter storms that rocked Texas. Power grids went out and millions of Texans were snowed in their homes, left without heat, water, or other basic utilities.
Due to a situation of this magnitude, it stands to reason that some people were simply not able to file, despite needing the jobless benefits more than ever. Economist Joseph Brusuelas confirmed this week that “weather-related distortions” are certainly having an impact on the reported 730K claims.
True Insight into Unemployment in America
There are several factors that have worsened unemployment in the nation. The loss of Keystone Pipeline jobs is one example, as is the green light that Biden gave to big businesses seeking to hire foreign workers for cheap labor purposes.
Criminals posing as state workforce agencies are sending text messages like this. Be wary of unsolicited texts, and never reply or click a link from a text claiming to be a state workforce agency. Report this & other unemployment insurance fraud: https://t.co/bgw6ZZBmd7 @DOLOIG pic.twitter.com/2aLjh6ynGv
— US Labor Department (@USDOL) February 23, 2021
The snowstorms in Texas have wreaked devastating havoc upon so many Americans. Many people in the Lone Star State are now facing sky-high utility bills that arrive at a time when struggle are rampant. It also doesn’t help matters that many Texans are going unpaid, despite circumstances outside of their control preventing them from working.
All in all, the next few weeks of unemployment numbers will provide true insight into just how many Americans are truly wrestling with joblessness.
What do you think about the latest information to come from the Department of Labor? Let us know down below in the comments section.