The U.S. labor market is showing signs of optimism that might best be described as hedging its bets—confident that the vaccination program will eventually allow for the reemergence of the normal workplace, but recognizing that it may not take just a snap of the fingers to get there. The surge in job ... READ MORE >
initial jobless claims
Initial jobless claims drop below 700,000 for first time in a year
Initial jobless claims fell to 684,000 for the week ending March 20, the Labor Department reported on Thursday, which is good news and represents the first time they have dropped below 700,000 in roughly one year. There were 241,000 new claims for federal Pandemic Unemployment Assistance, which is ... READ MORE >
Weekly jobless claims: A grim anniversary as claims rise to 770,000
Top-line initial claims for unemployment benefits increased to 770,000 versus an expected decline to 700,000 for the week ending March 13, according to government data released Thursday. There were 282,394 new claims for federal Pandemic Unemployment Assistance, and were 4.12 million continuing ... READ MORE >
Initial jobless claims: Expect the number to swell in coming weeks on benefits extension
First-time jobless claims remained elevated for the week ending March 6, arriving at 712,000, down from an upwardly revised 754,000 the week before, the Labor Department reported on Thursday. The total number of people on some form of unemployment insurance increased to 20.1 million for the week ending ... READ MORE >
Initial jobless claims: Only cold comfort for those out of work
Seasonal distortions caused a larger-than-expected decline in first-time jobless claims to 730,000 for the week ending Feb. 20, which significantly understates the true pace of first-time firings across the economy. We would urge policymakers to approach the decline with a grain of salt, which is ... READ MORE >
Initial jobless claims declined to a still-elevated 779,000
First-time claims for jobless benefits declined to a still-elevated 779,000 for the week ending Jan. 30, while continuing claims dropped to 4.592 million for the previous week, the Labor Department reported on Thursday. This is the third consecutive weekly decline and most likely reflects an ebbing in ... READ MORE >
Fourth-quarter GDP: Growth eases as economy decelerates
The American economy posted 4% growth in the fourth quarter as the recovery from the depths of the pandemic decelerated into the end of 2020, the Commerce Department reported on Thursday. While a growth rate at such heights would normally be reason to celebrate, it represents a major disappointment and ... READ MORE >
Initial jobless claims: Long shadow of the pandemic hangs over labor market
Initial jobless claims surged by 965,000 for the week ending Jan. 9, which almost surely captures the 498,000 individuals in the leisure and hospitality sector who lost their jobs in December and the remarkable churn in the labor market amid lockdowns by state and local governments. The increase, ... READ MORE >
Initial jobless claims: Still elevated as another benefits cliff looms
First-time jobless claims held steady at 787,000 for the week ending Jan. 2, while the number of those claiming unemployment benefits stands at 19.1 million, the Labor Department reported Thursday. First-time claims for federal Pandemic Unemployment Assistance rest at 161,400. Continuing claims fell to ... READ MORE >
Initial jobless claims increase to 885,000, a three-month high
Initial claims for unemployment insurance rose to 885,000 for the week ending Dec. 12, an increase from an upwardly revised 862,000 the week before as claims surpassed the 13-week moving average. In addition, first-time claims for federal Pandemic Unemployment Assistance increased to 455,037, and ... READ MORE >