Posted on 04/04/2019 8:07:17 AM PDT by Red Badger
Filings for U.S. unemployment benefits unexpectedly fell, dropping to the lowest since December 1969, as the labor market tightened further.
Jobless claims decreased to 202,000 in the week ended March 30, below all economist forecasts, Labor Department figures showed Thursday. The four-week average, a less-volatile measure, declined to 213,500, the lowest since October.
The surprising drop in claims is an indication that the labor market continued to tighten, with employers holding onto workers and loathe to let them go.
The level of continuing claims, which had moved up in recent months, fell the most since November in the week ended March 23.
At the same time, the ADP Research Institute said this week that firms added the fewest workers in March since 2017, potentially signaling some weakness. A Bloomberg survey of economists had forecast a gain of 215,000.
Continuing claims, which are reported with a one-week lag, fell by 38,000 to 1.717 million in the week ended March 23.
The unemployment rate among people eligible for benefits held at 1.2%. The level has been unchanged since May. The previous week’s claims were revised up to 212,000 from 211,000.
Has Bronco Bama claimed credit for this yet?
Valerie Jarrett did it for her roomie...............
You mean staffing firms working on fake job opportunities.
I’m told this is a candidate’s market. If we’re in a candidate’s market, the employer intransigence wouldn’t be a problem.
Employers can’t find the workers... at the price they’re willing to pay.
I have had at least two good jobs in my life that were gotten for me via headhunters.......................
“Employers can’t find the workers... at the price they’re willing to pay.”
Actually it isn’t up to the employer as far as what they pay employees. It IS for them to decide what hey want to pay but the actual wages they will pay will be determined by the market in their particular area.
Those who want to pay $30,000 for a position paying $40,000 in their local will simply not get anyone to work for them, or if they do it will be someone under or unqualified for the position.
I’m sure there are good headhunters.
Most of the recruiters I’m dealing with today are simply pushing the same crappy openings the other dozen recruiters are calling me about. They’re hawking nothing more than “cattle calls” for a few openings.
If we get into a candidate’s market, maybe the headhunters will improve.
Of course.
I’m sitting here at a McDonald’s in a wealthy area. I’ve had the district manager tell me he can’t get people. The teens are wealthy enough that they don’t need the part-time jobs.
The market will force his wages higher, just to keep the place staffed.
The good ones charged me nothing, their client is the corporation.
The ‘bad’ ones will charge you for their ‘service’ then get you nothing..................
Funny because the news we are getting here in Canada is that the US recovery is slowing down. LOL.
This is also a reason retail stores are closing: many can’t keep staffed, and so customers stop going. And store managers working 60-90 hours per week eventually figure out that their hourly rate would be better as a store employee.
This is all Trump’s fault! He wants to gut Unemployment Insurance by making it easier to get employed./s
The only problem with paying high wages for what is essentially an entry level little or no brains needed position is the higher wage greatly expands the choice of the employer on who he hires. The poor kid who lacks much in the way of knowledge and of course experience would have a chance for a job paying $8-10 per hr but doesn’t make the cut for $15 per hr.
Idiots in Congress do not seem to get that forcing higher than prevailing market wages on employers causes jobs to be lost as well as precluding the very people for whom those jobs were created in the beginning (before stupidity took over)to be bypassed for better educated and more experienced job seekers.
True.
Many IT employees should figure out their real hourly rate, including unpaid overtime. They may find being a store employee is a better deal.
“Left alone the marketplace is the very best regulator of wages and prices.”
Spoken by a true economic genius...
Trump’s fault. He’s destroying the welfare economy
Thanks Red Badger. It's a good thing, too, considering the additional, inflationary burden of excessive changes to minimum wage.
Bookmark!
“ORANGE MAN BAD!”
Job market bounces back in March with 196,000 gain in payrolls
https://www.cnbc.com/2019/04/05/nonfarm-payrolls-march-2019.html
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