Initial jobless claims rose by 231,000, the highest level since August, for the week ending May. 4 partly because of a one-time surge in New York as school vacations began. At the same time, new filings rose in many other states as well in a sign of rising layoffs and a cooling labor market. But the ... READ MORE >
initial jobless claims
Existing home sales plunge amid stable jobless claims
March proved challenging for the housing market as sales of existing homes plummeted by 4.3%, marking the steepest drop since November 2022, according to the National Association of Realtors on Thursday. This decline mirrors earlier setbacks in housing starts and permits. A significant uptick in ... READ MORE >
Initial claims reflect remarkable job security in American economy
Initial claims for jobless benefits for the week ending March 30 show that American workers continue to have remarkable job security. First-time claims increased to 221,000 from an upwardly revised 212,000 during the previous week, which was modestly above our preferred metric, the 13-week moving average, ... READ MORE >
Initial jobless claims fall to lowest in a month
Initial claims for unemployment insurance have once again defied expectations this year, continuing to signal a tight labor market that benefits workers. New claims fell by 12,000 to 201,000 for the week ending Feb. 17, according to the Labor Department's data on Thursday. With the exception of a ... READ MORE >
Initial jobless claims and housing starts post upside surprises
Filings for jobless benefits fell last week to their lowest level in 16 months, a testament for how resilient the labor market continues to be. Initial claims declined to 187,000 from 203,000 in the previous week, the Labor Department reported on Thursday. That was much lower than the pre-pandemic ... READ MORE >
Initial jobless claims remain resilient
Initial jobless claims inched up slightly to 220,000 last week, remaining within the pre-pandemic level, the Labor Department reported on Thursday. Claims have hovered around this level for quite some time, continuing to suggest a strong labor market that should support further growth in the fourth ... READ MORE >
Inflation slows again, pointing to another rate pause
Inflation in October fell to its slowest pace in more than a year, solidifying the case for the Federal Reserve to hold rates steady at its next meeting in two weeks. The personal consumption expenditures price index, the Federal Reserve's favorite inflation metric, was unchanged on the month, ... READ MORE >
Durable goods and jobless claims offer a mixed picture of the economy
The impact of elevated interest rates continued to show up in the business equipment spending data, which came in lower than expected in the Commerce Department's data released on Wednesday. Overall orders for durable goods fell by 5.4% in October, led by a 49.6% decline in nondefense aircraft because ... READ MORE >
Industrial production posts biggest drop this year amid strikes
Industrial production dropped by more than expected in October as the United Auto Workers strike was felt in the economy. Production of motor vehicle parts fell by 10%, marking the biggest drop since the beginning of the pandemic. The industrial production index declined by 0.6% on the month, according ... READ MORE >
Initial jobless claims ease amid broader signs of a softening labor market
Even as initial jobless claims have stayed relatively steady recently despite major strikes, there are longer-term signs that the labor market is softening. New filings for jobless claims inched down by 3,000 to 217,000 last week, up from 200,000 last month. But continuing claims—a measure of ... READ MORE >