We expect total employment to increase by 615,000 jobs when the employment report for May is released on Friday, with the possibility of a strong month of growth because of diminished seasonal effects linked to the echo of the pandemic-induced collapse in employment last year. As the unemployment rate ... READ MORE >
unemployment
Initial jobless claims set a new pandemic low
First-time jobless claims for the week ending May 22 declined to 406,000, a new low during the pandemic, putting them on track to breach the 400,000 level in the coming weeks and return to levels not seen since before the pandemic. The number of people filing new claims for federal Pandemic ... READ MORE >
CHART OF THE DAY: First-time jobless claims continue to decline
First-time jobless claims continued their downward march for the week ending May 15, falling to 444,000 as new filings for federal Pandemic Unemployment Assistance declined to 95,086, down from 103,678 for the week ending May 8. There were 3.75 million continuing claims for the week ending May ... READ MORE >
CHART OF THE DAY: Unemployment insurance claims continue to fall
First-time claims for unemployment insurance benefits continue to move in the right direction, falling during the week ending May 8 to 473,000, or a drop of 34,000 in seasonally adjusted terms, according to government data released Thursday. Over the past 13 weeks, initial claims have dropped in ... READ MORE >
CHART OF THE DAY: Estimating unemployment during the pandemic
Friday’s headline U3 unemployment rate of 6.1% for April is probably an undercount of the number of out-of-work people in the United States, not by design, but by the peculiar circumstances of the pandemic. An analysis of the labor report suggests that the unemployment rate, accounting for the ... READ MORE >
U.S. employment report: Economy added a disappointing 266,000 jobs in April
An easing of commercial restrictions, mass vaccinations and pent-up demand racing ahead of the overall reopening of the economy bolstered hiring in April to the tune of 266,000 jobs as the unemployment rate increased to 6.1%, according to government data released Friday. While this report is ... READ MORE >
Jobless claims: More good news from the labor market
First-time jobless claims declined to 498,000 for the week of May 1 from an upwardly revised 590,000 during the previous week, as continuing claims remained elevated at 3.69 million, according to government data released Thursday. This data will not affect Friday’s employment report, which is now ... READ MORE >
Employment report preview: Expect a gain of 1.4 million jobs in April
An American economy on the cusp of a comprehensive reopening is set to generate another month of robust job gains that will border on the historic. With nearly 150 million Americans having received at least one dose of a COVID-19 vaccine, we expect a net increase in employment of roughly 1.4 ... READ MORE >
March employment preview: Expect a gain of 1 million jobs
Not too long ago, we estimated that the economy would generate roughly 625,000 jobs per month this year as vaccines gained broad distribution and the economy reopened. Now, with the vaccines available to most adults and economic activity returning, the economy is poised for even stronger ... READ MORE >
Initial jobless claims drop below 700,000 for first time in a year
Initial jobless claims fell to 684,000 for the week ending March 20, the Labor Department reported on Thursday, which is good news and represents the first time they have dropped below 700,000 in roughly one year. There were 241,000 new claims for federal Pandemic Unemployment Assistance, which is ... READ MORE >