Thursday, March 30, 2023
  • About Us
  • Contact Us
Parliamentobserver
  • Ecology
  • Economy
  • Healthcare
  • Politics
  • Education
  • Business
  • Login
No Result
View All Result
Parliamentobserver
Home Economy

Weekly Initial Claims Increase for the Fourth Time in the Last Five Weeks

Dennis Rogers by Dennis Rogers
September 29, 2022
in Economy
0
Weekly Initial Claims Increase for the Fourth Time in the Last Five Weeks
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter

Initial claims for regular state unemployment insurance rose 6,000 for the week ending July 30th, coming in at 260,000. The previous week’s 254,000 was revised down from the initial tally of 256,000 (see first chart). Measured as a percentage of nonfarm payrolls, claims came in at 0.152 percent for the month of June, up from the record low of 0.117 in March, but still very low (see second chart).

Related posts

Biden could reduce inflation, mitigate a recession, and strengthen democracy with a new EU-US trade agreement

Biden could reduce inflation, mitigate a recession, and strengthen democracy with a new EU-US trade agreement

September 29, 2022
Recent trends in global value chains and beyond

Recent trends in global value chains and beyond

September 29, 2022

The four-week average rose for the sixteenth time in the last seventeen weeks (the four-week average was unchanged in one week), coming in at 254,750, up 6,000 from the prior week. Weekly initial claims data continue to suggest a tight labor market, though the recent sustained upward trend indicates some easing. Continued elevated rates of price increases, an aggressive Fed tightening cycle, and fallout from the Russian invasion of Ukraine represent risks to the economic outlook.

The number of ongoing claims for state unemployment programs totaled 1.444 million for the week ending July 16th, a drop of 3,412 from the prior week (see third chart). State continuing claims are also trending higher over the last several weeks (see third chart).

The latest results for the combined Federal and state programs put the total number of people claiming benefits in all unemployment programs at 1.473 million for the week ended July 16th, a decrease of 3,890 from the prior week. The latest result is the twenty-third week in a row below 2 million.

Initial claims remain at a very low level by historical comparison, but a clear upward trend has emerged, suggesting that, on the margin, the labor market has begun to loosen. Weekly initial claims for unemployment insurance is an AIER leading indicator, and remained a favorable contributor in the July update. However, given the upward trajectory, it will likely turn to a neutral position in coming updates. Furthermore, the number of open jobs in the country has receded for three consecutive months, though the level remains very high by historical comparison.

While the overall low level of claims combined with the high number of open jobs suggests the labor market remains solid, both measures are showing signs of softening. The tight labor market is a crucial component of the economy, providing support for consumer spending. However, persistently elevated rates of price increases already weigh on consumer attitudes, and if consumers lose confidence in the labor market, they may significantly reduce spending. The outlook remains highly uncertain.

Previous Post

Price Stability and the Fed

Next Post

US National Debt to Surpass 185% of GDP

Next Post
US National Debt to Surpass 185% of GDP

US National Debt to Surpass 185% of GDP

RECOMMENDED NEWS

Why Size Matters, Dependency Debilitates, and Markets Must Be Left Alone

Why Size Matters, Dependency Debilitates, and Markets Must Be Left Alone

1 year ago
The pandemic showed why social and structural determinants of health matter. Now it’s time for policymakers to act.

The pandemic showed why social and structural determinants of health matter. Now it’s time for policymakers to act.

1 year ago
Understanding Insurrections for Dummies

Understanding Insurrections for Dummies

9 months ago
Prices Rose Even Faster In June

Prices Rose Even Faster In June

8 months ago

BROWSE BY CATEGORIES

  • Business
  • Ecology
  • Economy
  • Education
  • Healthcare
  • Politics

POPULAR NEWS

  • Klaus Schwab – The Most Dangerous Man in the World

    0 shares
    Share 0 Tweet 0
  • Dr. Robert Malone v WEF

    0 shares
    Share 0 Tweet 0
  • Ukraine Adopts WEF Proposals

    0 shares
    Share 0 Tweet 0
  • Trudeau’s Approval Rating Hits 12-Month Low

    0 shares
    Share 0 Tweet 0
  • Trudeau Backs Down After Banks Scream about Massive Withdrawals

    0 shares
    Share 0 Tweet 0
Parliamentobserver

We bring you latest news about ecology, economy, healthcare, politics, education, business.

Recent News

  • Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands
  • Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups
  • The Role of Healthcare Advertising in Shaping Economic and Political Decisions

Category

  • Business
  • Ecology
  • Economy
  • Education
  • Healthcare
  • Politics

Recent News

Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands

Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands

February 6, 2023
Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups

Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups

January 18, 2023
  • About Us
  • Contact Us

© 2022 parliamentobserver.com Submit news release

No Result
View All Result
  • Ecology
  • Economy
  • Healthcare
  • Politics
  • Education
  • Business

© 2022 parliamentobserver.com Submit news release

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In