New jobless claims fell to 310,000
last week, a new pandemic low,
which comes shortly after 2.6
million people lost the $300-a-week federal unemployment boost.
The numbers are having a big
impact on the entire economy.
Caleb Silver with Investopedia says New Jersey is seeing sort of a mixed
recovery when it comes to unemployment.
Hudson County fairs the worst at 8.3% unemployment -- the national
average is 5.2%. Bergen County is at 7.4%, Monmouth County at 6.6% and Morris
County at 6%.
The issue
with unemployment is people out of work, and not being able to get back
into job force, could reduce consumer spending. It also puts a
lot of pressure on people at home.
Silver also says government
jobs have been hit the hardest, as has the leisure and hospitality sector.
Government jobs are still down about 51,000 from pre-pandemic levels. The
leisure and hospitality sector rebounded especially throughout the summer by
adding 181,000 jobs.