By: Aswathi K
March 29 2021
President Biden's comments on unemployment insurance figures made in his press conference are correct.
President Biden's comments on unemployment insurance figures made in his press conference are correct.In a press conference on March 25, 2021, U.S. President Joe Biden stated that the American economy is making a recovery due to his American Rescue Plan Act. The majority of economists now expect the economy to grow by six percent. Biden mentioned that the number of people filing for weekly unemployment insurance fell by nearly 100,000. The advanced seasonally adjusted insured unemployment rate was two-point seven percent for the week ending March 13, a decrease of 0.2 percent from the previous week's rate. The number for seasonally adjusted insured unemployment during the week ending March 6 was 4,134,000, and the week ending March 13 was 3,870,000, a decrease of 264,000. The figure for seasonally adjusted initial claims during the week ending March 20 was 684,000, down from 781,000 the previous week. According to AP News, "the number of people seeking benefits under a federal program for self-employed and contract workers also dropped to 241,000, from 284,000 a week earlier." It is true that the weekly based count of filings of unemployment insurance has reduced.