Jobless claims drop unexpectedly

The first weeks in August show that layoff activity has stabilized after the uptick in July. Initial jobless claims were down 2,000 to 250,000 in the August 13 week after a downward revision to 252,000 in the prior week (previously 262,000). The four-week moving average is down 2,750 to 246,750 in the August 13 data. It looks like new claims are establishing a trend level around the mid-250,000 mark. This is consistent with relatively low numbers of layoffs. Businesses continue to hold on to experienced workers despite some slowing in economic activity. Fed policymakers will be able to have confidence – at least for now – that aggressive removal of monetary accommodation hasn’t harmed the labor market and may be helping to address the imbalance of labor supply and demand. The number of persons receiving unemployment benefits was up 7,000 to 1.437 million in the August 6 week. The four-week moving average is up 13,250 to 1.413 million. There’s an indication that the uptick in claims in July has peaked and that the underly trend is settling not far above the 1.4 million mark. Even with rising levels of unemployment beneficiaries, the insured rate of unemployment has remained at 1.0% for five straight weeks and has not materially changed since the start of April. Among those eligible for unemployment benefits, the labor market remains favorable. #initialjoblessclaims #insuredjoblessclaims #insuredunemploymentrate

YIKES. This job creating economic machine continues resisting significant additional impact by Federal Reserve Board #InterestRate hikes - Weekly Initial #Unemployment Claims DECREASE to 250,000. This remains HISTORICALLY LOW as evidenced by the current level horizontal dashed black line in this 4 week average graphic dating back to 1967, but had steadily risen from the last week of May at 202,000. Economists say 270,000-300,000 would signal a material slowdown in the labor market. The low for 2022 was 166,000 in March which was the lowest since May 1969 = 53 years. Federal Reserve Board Federal Reserve Bank of St. Louis #FRED Bureau of Labor Statistics U.S. Department of Labor U.S. Department of Commerce #InterestRates #economy #recession #inflation #economy #EconomicGrowth

Looks like another .75 basis points coming.

Jobless claims report is out. The number of people who applied for unemployment benefits dipped to 250,000 in mid-August and appear to have stabilized. Many companies are still trying to hire, however, and their biggest labor problem is finding enough workers to fill open jobs.

Should you consider a new job in "this" recession? This is a low unemployment recession. See the comments section for more articles on that fact. Your job situation is specific to you, your job, and your employer. The "key is to get more information" about your specific job market(s) and the opportunities that are available. If your only source of information about your job, career paths for people in your position, and your salary is people at your company; it is much less likely you will make a well informed decision. It has to be up to date. You don't want to make your job, career, and salary decisions based on information you got during an interview in 2021 or 2020. One of your best sources of information for your career will come from interviewing at another firm. Yes, even if you decide to stay at your current position. What else do you gain by interviewing somewhere else besides career information, career path information, and up to date salary information? You gain Contacts, Knowledge of new approaches and innovations, and maybe even a friend. #job #career #opportunities #interview #jobchange

Jobless claims report is out. The number of people who applied for unemployment benefits dipped to 250,000 in mid-August and appear to have stabilized. Many companies are still trying to hire, however, and their biggest labor problem is finding enough workers to fill open jobs.

Should you consider a new job in "this" recession? This is a low unemployment recession. See the comments section for more articles on that fact. Your job situation is specific to you, your job, and your employer. The "key is to get more information" about your specific job market(s) and the opportunities that are available. If your only source of information about your job, career paths for people in your position, and your salary is people at your company; it is much less likely you will make a well informed decision. It has to be up to date. You don't want to make your job, career, and salary decisions based on information you got during an interview in 2021 or 2020. One of your best sources of information for your career will come from interviewing at another firm. Yes, even if you decide to stay at your current position. What else do you gain by interviewing somewhere else besides career information, career path information, and up to date salary information? You gain Contacts, Knowledge of new approaches and innovations, and maybe even a friend. #job #career #opportunities #interview #jobchange