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Just over 1.4 million Americans are collecting traditional unemployment benefits. That is the lowest recorded number in over 50 years. Applications for unemployment benefits have continued to decline, as employers added a record 6.7 million jobs last year.

The unemployment rate stood at 14.7 percent in April 2020, but has since dropped to 3.6 percent, also at its lowest point in 50 years. As things stand, there is a proportion of 1.7 job openings for each American that is unemployed.