The number of Americans receiving unemployment benefits for more than a week has climbed to its highest point since November 2021, signaling deeper strains in the labor market.
According to Labor Department data released on August 7, continued claims for unemployment insurance rose to US$1.97 million in late July—a notable increase from $1.85 million in early January. Meanwhile, new applications for jobless benefits remained relatively steady, rising by just 7,000 last week.
These figures highlight a labor market that is steadily weakening. Even though mass layoffs have not surged, many job seekers are struggling to secure new employment, leading to extended periods without work. Supporting this trend, a separate report last week showed that employers are hiring at one of the slowest rates in more than 10 years, not counting the pandemic slowdown.
As unemployment trends shift, many people look to the president’s economic policies for answers. From tax cuts and increases to federal aid, a president's economic policies can affect many aspects of the economy, including the unemployment rate. The unemployment rate is viewed as an indicator not just of the health of the overall economy or the percentage of people who aren't employed, but also as a measure of the success of a presidency.
To discover which presidents had the highest and which had the lowest, click through the gallery.