First-time claims for jobless benefits—a proxy for layoffs—declined more than expected for the week ending Oct. 2 in a sign that the labor market continues to be tight and that layoffs are not a major issue in the economy. The headline claims for newly unemployed workers posted a significant 10.4% drop ... READ MORE >
unemployment
ADP private payrolls report: Strong rebound, but not for middle market firms
An early estimate of nonfarm private employment showed a surprisingly strong rebound in September after a disappointing August, according to data released by ADP on Wednesday. The headline monthly change in employment—published in advance of the Bureau of Labor Statistics' more comprehensive jobs ... READ MORE >
U.S. September jobs preview: Expect a modest gain amid special factors and seasonal adjustments
The U.S. September employment report will most likely feature a net gain in total employment of 375,000 and a decline in the unemployment rate to 5.1% when it is released on Friday. The report will most likely reflect a mix of constraints in hiring related to Hurricane Ida and the reopening of ... READ MORE >
Initial jobless claims rose for third straight week as millions lost federal pandemic benefits
First-time jobless claims rose to 362,000 for the week ending Sept. 25 as enhanced federal unemployment benefits ended, according to government data released Thursday. The report provided the first look at how filing for benefits has changed with the expiration of enhanced federal unemployment benefits on ... READ MORE >
Initial jobless claims rise in the wake of Hurricane Ida
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 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 >
CHART OF THE DAY: Job openings set another record at 10.9 million in July
Job openings in the United States reached a record 10.9 million in July, continuing to show that the demand for workers remains strong while employers struggle to fill job vacancies. New hires inched down to 6.7 million and job separations were little changed, at 5.8 million, according to Labor ... READ MORE >
CHART OF THE DAY: The ‘real’ unemployment rate
Friday’s unemployment rate of 5.2% for August is probably an undercount of the number of out-of-work people in the United States. Under the Bureau of Labor Statistics' way of measuring unemployment, those who are out of work and no longer looking for a job are not counted as unemployed, so they do not ... READ MORE >
U.S. August employment report: Delta variant exerts a drag on hiring
What is obvious in the August jobs report that was released on Friday is that the delta variant has affected overall economic activity and hiring. Until a small portion of the public decides to get vaccinated, both the economy and hiring will be held hostage to the ebb and flow of the ... 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 >