Jobless Claims Rise Slightly But Remain at Historically Low Levels

Jobless Claims Rise Slightly But Remain at Historically Low Levels

Jobless Claims Rise Slightly But Remain at Historically Low Levels

The number of Americans filing new claims for unemployment benefits increased slightly less week, indicating that layoffs remain incredibly low and the country’s longest economic expansion is likely to stretch on into the future.

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 205,000 for the week ended February 8, Labor Department data showed on Thursday.

That was below the 210,000 estimated by economists. The prior week’s figure was revised up by 1,000.

Weekly jobless claims can be volatile but have recently become steady at very low levels. The four-week moving average, which smoothes out some of that volatility, was unchanged at 212,000.

Jobless claims are a proxy for layoffs. The ongoing low level of claims indicate that employers are hanging on to workers even as the economy showed some signs of slowing in the second half of 2019.

Job openings have been contracting for two months. These measure job postings by employers looking to fill positions. The decline may not indicate a softening of the labor market. Rather, it could be showing employers are looking toward training and capital investment to expand production due to very low levels of available workers.

Continuing claims are reported with a one week delay. The number of Americans receiving unemployment benefits after their initial week fell 61,000 to 1.70 million for the week ended February 1.

Read More

Share:

Share on facebook
Share on twitter
Share on linkedin

More News

***Live Updates*** George Floyd Protests Continue

***Live Updates*** George Floyd Protests Continue

George Floyd Protests Continue on Saturday. Stay tuned to Breitbart News for live updates. All times eastern. — 7:59 PM: Paul Ryan and John Boehner won’t say if they’ll vote for Trump in November. George W. Bush has already decided he won’t support him, say those familiar with his thinking. https://t.co/V7wUZB9kLS — Aman Batheja (@amanbatheja) June… … Read More

Mayor Frey Asks Trump for Help After Rioters Cause Millions in Damage

Mayor Frey Asks Trump for Help After Rioters Cause Millions in Damage

Mayor Jacob Frey (D) is seeking federal aid to help Minneapolis recover from the protests and riots that have wrecked the area. “With at least $55 million in estimated damage and far more to come, Minneapolis will need state and federal aid as it attempts to rebuild hundreds of structures after the riots following George… … Read More

Bernie Sanders’ Adviser: D-Day Largest Antifa Operation in History

Bernie Sanders’ Adviser: D-Day Largest Antifa Operation in History

Matt Duss, foreign policy adviser to Sen. Bernie Sanders (I-VT), commemorated the 76th anniversary of D-Day by describing it as the “largest Antifa operation in history.” Duss seemingly attempted to legitimize Antifa, the so-called anti-fascist group behind much of the political violence erupting at protests across U.S. cities, by equating it to the courageous Allied… … Read More

FOLLOW

© Copyright 2020 | American Priority | Privacy Policy | Cookie Policy