Posted on 08/03/2023 7:35:35 AM PDT by ChicagoConservative27
The number of Americans claiming unemployment benefits climbed slightly last week amid broader strength in the U.S. labor market.
Claims rose to 227,000 for the week ending July 29, up 6,000 from the previous week, ahead of more comprehensive jobs data to be released Friday by the Labor Department.
Despite the uptick, U.S. employers cut just 23,697 jobs in July, the lowest number in 11 months, according to employment research firm Challenger, Gray and Christmas.
“Companies, weary of letting go of needed workers, are finding other ways to cut costs. Many have slowed hiring, but wages continue to rise, particularly for the lowest-wage earners, for the moment,” Andy Challenger, a senior vice president with the company, said in a statement.
(Excerpt) Read more at thehill.com ...
Wait to the 30k unemployed from Yellow destruction hits the economic numbers next month.....
Oh wait, they will just revise it later when no one is looking.
Transitory firings.
New Woke Math. It "feels" like something else.
30,000 Yellow Freight employees will hit the reports next week........
Another article here:
https://finance.yahoo.com/news/jobs-report-august-4-july-2023-123149729.html
The revisions to both May and June’s reporting period is not exactly “slight”. Both original numbers were quite a miss from the actual numbers as now revised.
“Revisions to jobs data from the last months also reflected more modest hiring than previously reported, with June’s nonfarm payroll gains revised down to 185,000 from the 209,000 initially reported while May’s job gains were cut to 281,000 from 306,000.”
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