The Department of Labor revealed the number of first-time unemployment claims was 712,000 last week.
“The economy is still in a precarious position,” said Alfredo Ortiz, President and CEO of the Job Creators Network (JCN). “The number of first-time jobless claims is about three times higher than it was pre-pandemic. Seventeen million Americans are either unemployed or underemployed – twice as high as it was pre-Covid. Small businesses are still struggling, and they will barely be helped by the $1.9 trillion stimulus bill. Less than 3% of the stimulus was focused on small businesses despite their critical role in job creation. In fact, the stimulus bill might hurt our economy because of the greater risk of inflation and growing market concerns about our debt. With the stimulus bill taken care of, Democrats will put the pedal to the metal on their left-wing agenda– raising the minimum wage, increasing taxes, taking over our healthcare system, and enacting the Green New Deal. JCN will continue fighting against these destructive, job-eliminating policies.”