Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported.
“There are more people working than at any point in American history,” Biden said of the new report, adding it signals recovery from pandemic job losses.
There are different ways of evaluating whether the economy is good or bad without making up new definitions of recession.
It's a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to cool the economy and slow price increases.
In total, 1,350,000 Americans were collecting jobless aid the week that ended March 12, another five-decade low.
Jobless claims fell by 15,000 to 214,000 for the week ending March 12, down from the previous week's 229,000.
“The American economy is very strong and well-positioned to handle tighter monetary policy," Fed chair Jerome Powell said Wednesday.
How much good news would it take for Joe Biden to shake his bad poll numbers? Probably more than this.
Lawmakers in more than a dozen GOP-led states say workers who refuse vaccines should be eligible for unemployment benefits.
A small pilot program will help layoff victims navigate the process of claiming benefits.