The economic impact of Hurricane Ida was evident in the most recent initial jobless claims data, which rose to 332,000 for the week ending Sept. 11. There were noticeable increases in first-time claims, as one would expect, in New York, Pennsylvania, Connecticut, Louisiana and Alabama, according to ... READ MORE >
initial jobless claims
Initial jobless claims fall to 310,000, but expect volatility in the coming weeks
First-time claims for unemployment benefits declined to 310,000 for the week ending Sept. 4, down from 345,000 the week before and well below the 13-week moving average of 377,000. Continuing claims increased to 2.783 million for the week ending Aug. 28. Overall, those receiving some form of ... READ MORE >
Jobless claims: After the deluge
First-time jobless claims decreased to 340,000 for the week ending Aug. 28, from an upwardly revised 354,000 the week before, while continuing claims fell to 2.75 million, according to government data released on Thursday. While the weekly churn in the labor market is always of paramount interest, that ... READ MORE >
Initial jobless claims still elevated at 385,000 as the economy expands
First-time jobless claims decreased by 15,000 to 385,000 for the week ending July 31 while continuing claims for the week ending July 24 stood at 2.9 million, according to government data released Thursday. The top-line figure is close to the 13-week moving average of 404,100 and the four-week ... READ MORE >
Jobless claims continue choppy descent
In the 71st week of an employment crisis, initial claims for unemployment benefits dropped again by 24,000 to 400,000 first-time claims for the week ending July 24. There remain 13.1 million people who are receiving some form of unemployment benefits. Of those, 3.2 million—or 25%—are receiving ... READ MORE >
GDP expands by 6.5% in second quarter as expansion takes hold
A global public health crisis resulting in a 31.4% decline in gross domestic product in the second quarter of last year has turned to expansion because of sustained robust fiscal aid and unorthodox monetary policy. The U.S. economy grew by 6.5% in the second quarter, marking the start of the current ... READ MORE >
Jobless claims back above 400,000 for the first time in four weeks
First-time jobless claims increased by 51,000 to 419,000 for the week ending July 3, according to government data released Thursday. The increase underscores the week-to-week noise in the data and is not indicative of any signal of an acceleration in the pace of firings. With the labor market so tight, ... READ MORE >
Why the housing market is not in a bubble
Key takeaways Unlike in 2007, the surging housing market is in no danger of crashing. Inventories remain historically low. Demographic changes will bolster demand in the coming years. Buyers today are more credit-worthy than in the 2000s. Household balance sheets are also much ... READ MORE >
CHART OF THE DAY: Improving labor market signals increased consumer confidence and spending
There is no doubt that an economic recovery is unfolding. Since the beginning of the year, initial claims for unemployment benefits have been in general decline, falling from 900,000 per week to roughly 370,000 recently. This drop in unemployment claims coincides with a steady increase in consumer ... READ MORE >
Initial jobless claims imply that ending benefits does not improve employment numbers
Over the past few weeks, we have observed a steady but uneven decline in first-time jobless claims on the way back to what we expect will be a range of 200,000 to 230,000, last seen before the pandemic. To push that process along, 26 states, citing demand for workers, have ended extra unemployment ... READ MORE >