Connect with us


Jobless Claims Tank by 10,000 Last Week to 230,000



USA Jobless graph on a tablet screen | Jobless Claims

Last week, the number of new jobless claims for insurance fell by 10,000 to 230,000, the lowest number in three weeks.

Claims for unemployment are a stand-in for layoffs. Despite the fact that both payroll growth and vacancies have decreased from last year's levels, firms have continued to hire new employees and post job openings at a strong rate this year. Layoffs have remained extremely low in the United States after an early-year spike in the technology and banking industries.

The numbers have been adjusted for the season. Before to seasonal adjustment, claims decreased by 15,466 to reach the lowest level since last November, below 200,000.

After the first week of benefits, continuing claims decreased by 9,000 to 1,702,000. This is low by historical norms and indicates that many employees who have been laid off by firms who are downsizing are quickly finding new positions. They have a one-week delay in reporting.

Initial claims for unemployment benefits are frequently a leading economic indicator, foretelling increases in the unemployment rate as well as the general economic trend. Claims this year have correctly predicted that a recession is not about to happen.

Up Next:

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Continue Reading

Copyright © 2023 The Capitalist. his copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.


Is THE newsletter for…


Stay up-to-date with the latest kick-ass interviews, podcasts, and more as we cover a wide range of topics, in the world of finance and technology. Don't miss out on our exclusive content featuring expert opinions and market insights delivered to your inbox 100% FREE!