Posted on 08/12/2022 3:00:30 PM PDT by Roman_War_Criminal
The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the US job market continues to show signs of strength. Applications for jobless aid climbed by 14,000, to 262,000 and now have risen five out of the last six weeks, the Labor Department reported Thursday. The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to 252,000, also the highest since November, per the AP. Unemployment applications are a proxy for layoffs and are often seen as an early indicator of where the job market is headed.
So far this year, hiring in the United States has been remarkably strong and resilient in the face of rising interest rates and weak economic growth. The Labor Department reported last week that US employers added 528,000 jobs last month, more than double what forecasters had expected. The unemployment rate dipped to 3.5% in July, tying a 50-year low reached just before the coronavirus pandemic slammed the US economy in early 2020. The United States recovered with unexpected strength from 2020's COVID-19 recession, leaving businesses scrambling to find enough workers.
(Excerpt) Read more at newser.com ...
But nothing to worry about. According to Biden and Harris, we’re now at “zero percent” inflation.
Sure!
Tell that to those who pay power and gas bills.
I’m not making excuses for Biden and I am on record here stating unemployment will go through the roof by the end of there. Just a point in fact, unemployment claims can be out numbered by new hires which shows as employment growth. There is a huge number of people that are not working and do not count as unemployed. The labor participation rate is abysmal under Biden. When unemployment really kicks in later this year it will be tempered by an already low labor participation rate. That means unemployment will be underestimated.
Illegal aliens need some money!
And yet businesses in this region are screaming they can’t hire enough help.
Fixed it.
I think you are right and expect some large layoffs just in time for Christmas.
BestBuy announced layoffs today. It has already started. It starts as a drip, drip, drip until the little boy’s finger is removed from the dike.
Good point!
GD it! At least somebody is keeping an eye on this while the rest of us are keeping and eye on the rest of the criminal cabal activities in DC!
Its the C6 that is the more accurate? Right or wrong?
Or am I thinking of something else?
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