First-time jobless claims increased to 412,000 for the week ending June 12 from a revised 375,000 previously, the government said on Thursday. However, the top-line increase remains well below the 529,200 13-week moving average within the series, implying that conditions for further improvement remain intact. That being said, the recent six consecutive ... READ MORE >
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3 things to know this week in energy: Oil prices spike, workforce diversity, Inter Pipeline
Biweekly, we highlight three things going on in the energy industry that we think you should know about. This week, we take a look at the driving forces behind the recent two-year high in oil prices, a new report on gender diversity in energy technology and services, and a bidding war over a Canadian energy infrastructure company. Here’s the latest. 1. Oil ... READ MORE >
Pandemic pressures leave women struggling to regain lost ground on jobs
During the pandemic, women have taken the brunt of the damage to the labor force, whether in the form of losing their jobs or working triple-duty at home with child care and education on top of their work obligations. Real wage differentials between men and women during the pandemic have turned into a chasm, increasing by 4.9%. The labor force ... READ MORE >
Chart of the day: Number of unemployed persons per job falls to 2
Recovery of the domestic labor force continues as the number of unemployed persons per job opening in the United States fell to 1.95 in September while individuals continued to be recalled to work. Given the fact that 906,000 private sector workers were recalled in October with permanent job losses largely unchanged at 4.5 million, it is important to note ... READ MORE >
CHART OF THE DAY: Americans with no job for 27 weeks or more rises sharply
The number of Americans without a job for 27 weeks or more rose in August to the highest level in three years. The reason this matters? Labor market studies by the Federal Reserve show that individuals who experience joblessness for more than 26 weeks face increasing risk of becoming permanently detached from the labor force, contributing to structural ... READ MORE >
CHART OF THE DAY: Weekly initial jobless claims higher than expected
In a sobering surprise, the Labor Department reported on Thursday that initial jobless claims for the week ended Aug. 15 reached a higher-than-expected 1.1 million, a sign the road to economic recovery will be bumpy and volatile as the country struggles to gain footing amid the COVID-19 pandemic. The Bloomberg consensus forecast was for a continued ... READ MORE >
CHART OF THE DAY: Job openings increase, but so does competition for them
Number of unemployed persons per job opening The Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, shows job openings increased in June as the number of available positions rose to 5.89 million, compared with 5.37 million in May. Meanwhile, our chart of the day shows how different the labor market is today, as competition for those ... READ MORE >
Weekly initial jobless claims: Much-needed context as claims rise by 1.5 million
While the pace of first-time jobless claims has declined over the past few weeks, such an improvement is still akin to saying someone has turned down the heat in hell. It is clear that the U.S. labor market remains impaired as first-time jobless claims increased by 1.5 million for the week ending June 13, and continuing claims advanced by 20.5 million for ... READ MORE >
Tech jobs have not been spared in the pandemic, but growth of remote work helps some
Before COVID-19, unemployment in the technology sector was at a five-decade low and was far lower than the overall U.S. unemployment rate. Though unemployment has risen for some parts of the technology sector as the pandemic has gripped the country, companies are still hiring for other roles. Job postings for web developers and applications software ... READ MORE >
State jobless claims continue to decelerate in week ending May 23
Another 2.1 million first-time unemployment claims were processed by state employment agencies for the week ending May 23, with 323,000 less than the prior week but still 10 times the normal amount. Because of the staggering magnitude of initial claims, it seems premature to declare the end of the rush to collect unemployment benefits. Still, only six ... READ MORE >