Unemployment claims registered a fall for the most recent week, but still remained higher than expected, according to data from the U.S. Department of Labor (DoL). “In the week ended July 23, the advance figure for seasonally adjusted initial claims was 256,000, a decrease of 5,000 from the previous week’s revised level,” a July 28…
Unemployment Claims Rise More Than Expected as US Sinks into Recession
July 29, 2022
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US Jobless Claims Hit 5-Month High, But Unemployment Rolls Are At Their Lowest Since 1969
Despite a strong employment scene, U.S. jobless claims rose to their highest levels in nearly five months around Memorial Day, with 27,000 claims submitted, according to a report from the Labor Department released on June 9. Claims for the week ending June 4 totaled 229,000—the highest since mid-January, well ahead of the 210,000 Dow Jones…
U.S. Wage Growth Is Starting Fade Due To Inflation Says Labor Department Report
Americans have seen their wages increase as pandemic restrictions have eased over the past year, which have continued into April but not kept up with the rising rate of inflation, according to the latest employment data from the Bureau of Labor Statistics released on May 6. Employee salaries have been on the rise for the…
US Wage Growth Is Starting Fade Due To Inflation Says Labor Department Report
Americans have seen their wages increase as pandemic restrictions have eased over the past year, which have continued into April but not kept up with the rising rate of inflation, according to the latest employment data from the Bureau of Labor Statistics released on May 6. Employee salaries have been on the rise for the…
Labor Department Reports 214,000 Fewer Americans Filed for Unemployment Benefits Last Week
The number of Americans filing for unemployment benefits declined by 214,000 last week, reported the Labor Department on March 17, a sign that the demand for workers remains elevated amid an ongoing labor shortage. Meanwhile, the February jobs report exceeded past expectations with 678,000 additional hires. The figures for the week ending March 12 fell…
US Unemployment Claims Rose to 227,000 in March
First-time claims for unemployment benefits in the United States were up higher than expected in the week ending March 5, according to the jobless claims report (pdf) released March 10 by the U.S. Department of Labor. The latest weekly data shows the impact of the Omicron variant, which hit the United States earlier this winter, briefly…
Labor Department Reports US Weekly Unemployment Claims Dropped at End of January
A Labor Department report on Feb. 3, showed that the number of Americans filing new weekly jobless claims fell 23,000 to 238,000, more than expected last week, as the Omicron variant subsided, a second straight weekly decline. Economists polled by Reuters had earlier forecast 245,000 jobless benefit applications. Jobless applications fell sharply in Ohio, Kentucky, and…
Weekly US Unemployment Claims Fall for First Time in a Month
The number of Americans applying for unemployment benefits for the week of Jan. 22 declined on a weekly basis for the first time in 2022, according to the Labor Department on Jan. 27. Jobless claims dropped to 260,000, following three weeks of increases amid a surge in Omicron cases. This was 30,000 fewer from the…
Unemployment Claims Rise From Omicron, Experts Say It Is a Temporary Hike in Tight Job Market
January 6, 2022
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Business & EconomyeconomyOmicron variantstrong labor marketU.S. Department of Laborunemployment benefitsUSUS NewsUS Unemployment Claims
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Americans filing for unemployment benefits increased in the week ending Jan. 1, running contradictory to analyst expectations, and may be a precursor to the coming weeks where more workers are expected to get laid off with one of the main reasons being Omicron-related business continuity issues. “[T]he advance figure for seasonally adjusted initial claims was…
Wall Street Markets Wipe Out Gains After Reaching an Early High
Stocks on the S&P 500 and the Dow closed down on Dec, 30, after giving up its early gains late in the trading session breaking what could have been its longest streak of gains since March. The market initially rallied after weekly jobless claims fell more than expected, calming fears of the Omicron variant’s effect…
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