Jobless Claims Remain Near Record Lows

The number of Americans who filed new unemployment claims totaled 205,000 in the week ending Dec. 18, a new post-pandemic low.

The Labor Department figure shows an unchanged amount of claims from the previous week ending Dec. 11. Economists surveyed by The Wall Street Journal estimated that claims would remain around last week’s reported level of 206,000, just above the lowest number in 52 years.

Read More

Commentary: The Unemployment Rate Does Not Offer Guidance Now

The Labor Department’s official unemployment rate—the most well-known gauge of the labor market’s health—counts as unemployed only those who aren’t working but are actively seeking a job.

Yet there is very little that we can infer from the jobless rate about the health of the economy.  The unavoidable conclusion is that the only reason investors follow the calculation is because both Washington’s politicians and the Federal Reserve are expected to react to it.

Read More

Jobless Claims Decrease Slightly as Economic Recovery Continues

Unemployment sign

The number of Americans filing new unemployment claims decreased to 411,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.

The Bureau of Labor and Statistics figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending June 12, when 418,000 new jobless claims were reported. That number was revised up from the 412,000 jobless claims initially reported last week.

Economists expected Thursday’s jobless claims number to come in around 380,000, The Wall Street Journal reported.

Read More

Job Searches Increased in Republican States Canceling Federal Unemployment Boost: Report

Person on laptop

Relative to the national trend, job searches temporarily increased in states that have announced they will no longer offer the pandemic-related federal unemployment boost, an economic report showed.

In states that are withdrawing from the federal unemployment program, interest in job postings increased 5%, according to the report released Thursday by job listings site Indeed. The increase was relative to a national average recorded during the final two weeks of April, before Republican governors began canceling the federal benefit.

“In May, job search activity on Indeed increased, relative to the national trend, in states that announced they would end federal [unemployment] benefits prematurely,” the Indeed report said.

Read More

Labor Department To Reinstate Aide Wrongfully Accused Of Anti-Semitism

The Department of Labor reinstated a political appointee Wednesday night who resigned under pressure after a Bloomberg Law reporter accused him of anti-Semitism for a Facebook post in which he was actually condemning anti-Semites in the alt-right, the Daily Caller News Foundation exclusively learned.

Read More