The number of American's who continue to apply for initial unemployment benefits dropped to around 750,000 a week ago, this according to the United States Labor Department. Another 363,000 people applied for Pandemic Unemployment Assistance a week ago, which is a special government relief program for self-employed workers who don't qualify for regular unemployment aid.
In mid-October, one in seven workers were getting some sort of jobless benefits. Nearly half of the 22 million jobs that were lost earlier this year due to COVID-19 have been regained. The pace of hiring has slowed down, going from 4.8 million payroll gains in June to just over 660,000 in September. The unemployment rate remains at 7.9 percent.