U.S. Weekly Jobless Claims Continue Slow Decline

The Labor Department's latest report shows a decline in unemployment claims, though they remain significantly higher than pre-pandemic levels. California, Florida, Georgia, and Texas are the hardest-hit states. The Bureau of Labor Statistics reported an unexpected addition of 2.5 million jobs in May, surpassing expectations. However, Federal Reserve Chairman Jerome Powell cautions that the recovery pace is uncertain, with an estimated unemployment rate of 9.3% by year-end.

Which states were reported to be most affected by unemployment according to the Labor Department's report?

• California, Florida, Georgia, and Texas

• Washington, Oregon, and Idaho

• New York, Illinois, and Ohio

• Nevada, Arizona, and New Mexico

How many weeks of decline in unemployment claims were reported?

• 5 weeks

• 8 weeks

• 10 weeks

• 12 weeks

How many jobs were unexpectedly added to the economy in May?

• 4.5 million

• 1.5 million

• 2.5 million

• 3.5 million

What did Federal Reserve Chairman Jerome Powell say about the pace of economic recovery?

• It is faster than expected

• It is slow but steady

• It is certain and predictable

• It remains uncertain

What is the projected unemployment rate by the end of the year according to Jerome Powell?

• 10.3%

• 9.3%

• 8.3%

• 7.3%