The housing market continued to cool, but not the labor market.


Economic News from RSM
by Tuan Nguyen
The housing market continued to cool, but not the labor market.
New filings for jobless claims, a proxy for job layoffs, fell below the pre-pandemic level once again last week to 214,000, according to the Department of Labor. That marked a 15,000 drop from the prior week and a…
New filings for jobless claims rose unexpectedly last week because of large jumps in Missouri and Ohio. New claims advanced to 248,000 from an upwardly revised 225,000 the week before.
For the first time in five months, first-time jobless claims fell below one million to 963,000 for the week ending Aug. 8, while continuing claims eased to 15.5 million, Labor Department data shows.
Tuan Nguyen is an economist at RSM US LLP who analyzes high-frequency economic data within the United States and global economies to better understand the American middle market. Tuan’s data-driven economic analysis and insights enhance the ability of middle market companies to thrive in an increasingly competitive global economy.
Based in New York, Tuan works closely with the firm’s cutting-edge Industry Eminence Program to help senior analysts accelerate data-driven strategies in their line of business. His areas of focus include the comprehensive measurement framework for environmental, social and governance (ESG) financial reporting, as well as trends in behavioral, labor and network economics and in industrial organizations. Before joining RSM, he was a graduate researcher, lecturer and teaching assistant for the economics department of his alma mater, Northeastern University, where he taught macroeconomics, international economics and microeconomic theory.
Nguyen holds a Ph.D. in econometrics and quantitative economics from Northeastern University and holds a bachelor of arts in economics and international affairs from the University of New Hampshire, where he graduated summa cum laude and was recognized as an outstanding economics student.