The percentage of out-of-work Americans receiving benefits from state unemployment insurance (UI) programs reached a historic low in 2014, a new study shows.
According to the Economic Policy Institute's (EPI) report, the national UI recipiency rate -- the share of jobless people receiving benefits from state UI programs -- dropped to 23 percent as of last December. That's less than the previous record-low UI recipiency rate of 25 percent, which was set in September 1984.
Though researchers from the Washington, D.C.-based think tank do credit the decline in part to an improving economy, they say state UI programs "in many cases failed to assist jobless workers" after the Great Recession.
U.S. employers extended their solid hiring into July by adding 209,000 jobs. It was the sixth straight month of job growth above 200,000, evidence that businesses are gradually shedding the caution that had marked the 5-year-old recovery.