Over the past few weeks, we have observed a steady but uneven decline in first-time jobless claims on the way back to what we expect will be a range of 200,000 to 230,000, last seen before the pandemic. To push that process along, 26 states, citing demand for workers, have ended extra unemployment ... READ MORE >
unemployment
June jobs report: Let the good times roll
The U.S. economy generated a robust 850,000 jobs in June while the unemployment rate advanced to 5.9% amid an increase of 151,602 workers in the labor force, according to government data released Friday. This combination of job generation and workers returning is a good thing and illustrates that the ... READ MORE >
Initial jobless claims resume their downward trend, falling to 364,000
Initial jobless claims declined to 364,000 for the week ending June 26, resuming their downward trend following a few weeks of flat to down readings. The weekly number is the lowest posting of the pandemic and indicative of what we expect to be a downward march toward pre-pandemic levels in first-time ... READ MORE >
Data deluge: Jobless claims ease to 411,000 as durable goods orders rise 1.1%
First-time jobless claims eased to 411,000 for the week ending June 19, a slight decline from the revised figure of 418,000 for the previous week, according to government data released Thursday. The decline is indicative of what will be a long road to normalization in the pace of firings that ... READ MORE >
Labor market improvement is not a one-way street: jobless claims increase to 412,000
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 ... READ MORE >
CHART OF THE DAY: Initial jobless claims continue downward trend
Initial jobless claims continued to decelerate for the sixth straight week as the labor market slowly normalizes, according to government data released Thursday. State employment agencies reported 376,000 new claims for unemployment insurance for the week ending June 5, down from 800,000 claims per ... READ MORE >
CHART OF THE DAY: April JOLTS data shows tightening in the labor market, but it’s nothing new
The federal government's job openings and labor turnover survey data for April, also known as JOLTS, implies that while the labor market has tightened—mostly because of people dropping out of the workforce amid broad demographic and structural economic changes—this is nothing new. If anything, there is ... READ MORE >
CHART OF THE DAY: Duration of unemployment suggests patience by the Fed
Among mounting signs of recovery from the pandemic and recession, it’s taking longer for out-of-work members of the labor force to find employment. It now takes almost 30 weeks on average to find a job, with a median of more than 19 weeks. Both of those measures are far above what would normally be ... READ MORE >
May employment report: Job gains accelerate, adding 559,000
The American labor market showed improved signs of life in May, adding 559,000 jobs along with an upward revision to the April figure of 27,000 jobs, putting it at 586,000. In many respects, this is a Goldilocks number—not too hot and not too cold—which should provide some relief to concerns that ... READ MORE >
Initial jobless claims fall to pandemic low of 385,000
As the American economy moves toward its full capacity to produce, the labor market continues to improve. First-time jobless claims fell to a pandemic low of 385,000 for the week ending May 29, according to government data released on Thursday. This report is another in a series of encouraging jobs ... READ MORE >