Barry Poppins returns
Posted on 01/20/2022 12:34:32 PM PST by Red Badger
The number of Americans who filed new unemployment claims increased to 286,000 in the week ending Jan. 15, as the labor market continues to recover after surging COVID-19 cases.
The Labor Department figure shows a 55,000-claim increase compared to the week ending Jan. 8 when claims increased to 231,000. Economists surveyed by The Wall Street Journal expected claims would decrease to 225,000, MarketWatch reported. (RELATED: Orange Juice Prices Expected To Soar After Worst Harvest Since World War Two)
Jobless claims rose sharply last week to 286,000. The labor market, a source of economic growth, faces headwinds as Omicron cases remain high. https://t.co/oJNgmsXtst
— The Wall Street Journal (@WSJ) January 20, 2022
COVID-19 cases have continued to soar throughout the country causing weaker growth forecasts, but some experts think the Omicron coronavirus variant will further disrupt the demand for workers, the WSJ reported.
“Someone who’s dependable, who’s been on the job for a year and doesn’t need to learn the ropes—you don’t want to lay that person off when you’re expecting a spring thaw” in economic activity, Automatic Data Processing (ADP) economist Nela Richardson told the WSJ.
The U.S. economy added only 199,000 in December 2021, but unemployment fell to 3.9% from November’s 4.2% figure. Meanwhile, roughly 6.5 million Americans remained out of work at the end of 2021 as the economy was still 3.5 million jobs short of pre-pandemic levels.
Jobless claims soar as “NOW HIRING” and “HELP WANTED” signs multiply. I’ve never seen anything like it.
It is very strange. If you have any workers at all right now, you’d probably be inclined to keep them. It’s not like somebody better is going to walk in off the street.
I know a few people in PA who filed. Their claim is months old and the system won’t address their problem. They are not on the unemployment roles as they can’t get on it. One has a wife and kids and is desperate.
Unexpected!
It is Clearly Visible here in SoCal, since the first of the year, EVERY Freeway is moving Full Speed at 85, even during Rush Hour or what was Rush Hour traffic.
“I know a few people in PA who filed. Their claim is months old and the system won’t address their problem”
Trying not to sound crass...
Months old and they cannot find jobs?
I drove through the PA turnpike over Thanksgiving and there were billboards with factories, manufacturers and warehouses begging for help what seemed every exit.
Have the many workers in the Oil&Gas Industry been included in the jobless claims? Lots of engineers and other technical personnel who lost jobs.
“Have the many workers in the Oil&Gas Industry been included in the jobless claims? Lots of engineers and other technical personnel who lost jobs”
Are you referring to Keystone pipeline?? I bet most of those folks are employed once again elsewhere in oil and gas.
There is record employment in oil and gas right now. Gas and oil companies cannot find people right now. Marcellus Utica gas reserves in my area, 3rd largest in the world are at an all time record gas production in 2021.
2022 looks even better. Cold weather and Europe and the rest of the world are out of gas. It’s going to be great for the US.
unexpected
“Unexpected”.
L
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