Posted on 01/26/2023 8:14:45 AM PST by ChicagoConservative27
New first-time applications for jobless benefits fell last week, even as major technology and media companies announced thousands of layoffs, according to data released Thursday by the Labor Department.
In the week ending Jan. 21, initial claims for unemployment insurance totaled 186,000 after seasonal adjustments, down 6,000 from the previous week’s total of 190,000. Roughly 197,500 Americans filed to begin new cycles of jobless benefits each week over the past month, still well below pre-pandemic averages.
New weekly jobless claims are not necessarily a perfect reflection of layoffs, as some Americans who have lost their jobs may not have applied yet for unemployment benefits. The thousands of layoffs announced by companies such as Microsoft, Alphabet and Amazon are also relatively small in proportion to the natural churn of millions of layoffs and new hirings each year.
But experts say the persistence of low weekly jobless claims is a sign that laid-off workers still have plenty of chances to find new jobs in a resilient economy.
(Excerpt) Read more at thehill.com ...
Sure they do. "Resilient." I'm surprised the author wasn't able to weave in "Diverse" and "Sustainable," too.
Solid indicator that we’re on the road to, well, whatever. Hey (b)adminstration.....🖕
Of course, Out before they can get their unemployment claims approved.
These workers were so pampered at their previous jobs, that they will never be able to find a new job they will like. They will be shocked that their office will most likely have a simple break room with a regular coffee maker, no baristas. no sleeping rooms, foosball tables, and on and on....
I saw a story at Yahoo yesterday of one person who had posted a video of what it is like at the LA office which was a converted aircraft hanger. She was one that was laid off.
She showed some of the benefits like massage chairs, free candy dish, free drinks, hot cooked meals which were also free.
Not crap, just reality. We’ve got more work to do to get out of this part of the cycle, which is no surprise.
“If Stupid got us here, why can’t Stupid get us out?”
-Will Rogers
Most of the tech jobs have not been laid off yet. They have been given notices and up to three months of pay/work before they are technically laid off. Most states require that you stop getting paid a certain amount prior to being considered out of work.
Can’t file for unemployment until severance is done I don’t think.
What did she do but take advantage of all the perks, put it on TikTok and talk about meetings. She did nothing from what I can see or what she said that could be called “work”.
“Most of the tech jobs have not been laid off yet.”
Tech and other areas all have to shed more excess workers. Unemployment has to get to at least 5% (which is considered full employment due to a more mobile workforce) to slow inflation. It may have to go higher than 5%.
We all remember inflation, that thing we want to see lower. This is how you get there. Most everyone here has said for years that we are going to pay for all that spending.
It’s payment time.
This is going to hit hard for this woman (girl in reality because she is not grown up) when she puts her resume out there and no one bites because she is going to realize she has no actual work experience.
Unemployment doesn’t slow inflation. It is sometimes a result of high inflation and sometime not.
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