The intense debate over whether there needs to be a large fiscal stimulus package was supplemented by a weak U.S. employment report for January that saw an anemic gain of 49,000 jobs while 406,000 people exited the workforce. … READ MORE >
unemployment
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. … READ MORE >
Employment report preview: Policy implications paramount following January data
We expect that the December employment downturn will be a one-month occurrence and that the January jobs data, to be released Friday, will show a gain of 190,000 and a decline in the unemployment rate to 6.6%. … 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. … READ MORE >
First-time jobless claims remain elevated
Initial jobless claims declined to 900,000 for the week ending Jan. 16, down from 965,000 the week before but well above the pre-pandemic high established in 1982. … READ MORE >
CHART OF THE DAY: Longer-term stagnation in the labor force
Since the summer, the labor force has been shrinking by up to 3% on a year-over-year basis. Should the pandemic drag on, there is the potential of more and more of the labor force becoming discouraged, ending efforts to look for work. … READ MORE >
CHART OF THE DAY: Estimating unemployment during the pandemic
Friday’s headline U3 unemployment rate of 6.7% for December is probably an undercount of the number of out-of-work people in the United States, not by design, but because of the peculiar circumstances of the pandemic. … READ MORE >
U.S. December employment report: Temporary stall in hiring
Hiring in the American economy declined by 140,000 in December as firms felt the effects of the six-month delay by the political sector in providing fiscal aid to the public, and the subsequent pulling back in economic activity. … 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. … READ MORE >
December payroll preview: State and local government employment to continue contracting
We anticipate a decline of 75,000 jobs in total U.S. employment and an increase in the unemployment rate to 6.8% when the jobs report is released Friday. … READ MORE >