Posted on 10/13/2022 6:23:13 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose slightly last week but remains historically low even as the U.S. economy slows in the midst of decades-high inflation.
Jobless claims for the week ending Oct. 8 rose by 9,000 to 228,000, the Labor Department reported Thursday.
The four-week moving average ticked up by 5,000 by to 211,500.
Considered a proxy for layoffs, applications for jobless aid have remained historically low since the initial purge of more than 20 million jobs at the start of the coronavirus pandemic in the spring of 2020.
Some recent employment data has indicated that the job market may be cooling slightly, but overall, it remains the healthiest part of an economy that’s been wobbling since early this year.
American employers slowed their hiring in September but still added 263,000 jobs and the unemployment rate dropped from 3.7% to 3.5%, matching a half-century low.
The total number of Americans collecting unemployment aid ticked up by 3,000 to 1.37 million for the week ending Oct. 1.
(Excerpt) Read more at apnews.com ...
We’re about to go into a good old fashioned depression, aren’t we? I guess we’re due.
But, Biden stated about the latest job reports:
“Wage growth for workers remains solid, down from the historic high pace months ago but still growing.”
Inflation doesn’t affect him, of course, and he doesn’t understand that inflation-adjusted wages are falling like a rock.
Biden will be dead and cold by the time the full effects of his stupid policies take effect.
He doesn’t have to deal with any of the consequences of his and his handlers’ actions.
The 3.5% / 3.7% numbers are totally bogus
The 3.5% / 3.7% numbers are totally bogus
Oracle announced layoffs today. Intel announce 22k in layoffs yesterday. The hits just keep coming. Thanks Brandon.
The market always performs best with the unemployment rate betwen 5 to 8 percent. The fed needs to destroy the labor market to save the economy.
Unemployment? Then why does every local store in my town have “Help Wanted” signs posted in front?
Entry level folks are now demanding career wages. And unfortunately enough are getting them they all feel entitled.
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