Posted on 01/26/2023 9:00:18 AM PST by Red Badger
Jan. 26 (UPI) -- U.S. residents filing for unemployment benefits for the first time reached a seasonally adjusted 186,000 last week, dropping under 200,000 for the second week in a row after being elevated over that total for most of 2022.
The new report, an indicator of how many workers nationally have newly left jobs and are looking for work, was 6,000 fewer than the week before, which was revised upward to 192,000. It was the first time the weekly unemployment claims had consecutive weeks under 200,000 since April.
Initial claims benefits had been above 200,000 since Sept. 24 (190,000), when the first-time claims dipped under that for one week before leaping back over 200,000 for the rest of the year.
The four-week moving average for last week also dipped under 200,000, falling to 197,500, a decrease of 9,250 from the previous week's revised average. The average from the week before was revised up by 750 from 206,000 to 206,750.
The total number of people receiving unemployment benefits for the week ending Jan. 14 increased, though, by 20,000 to 1.675 million. The previous week was revised up by 8,000 to 1.655 million.
The four-week moving average for overall unemployment filings for the same week fell by 10,750 to 1,664,250. The previous week's total was revised up by the Labor Department to 1.675 million.
The calm before the storm.
“he new report, an indicator of how many workers nationally have newly left jobs and are looking for work, was 6,000 fewer than the week before”
It also is an indicator of how many people have used up all their unemployment and drop off the roles, receiving neither employment nor unemployment income.
We are still very early in this cycle, this is a time to observe and prepare for the great opportunities that are coming.
I suspect they are still playing games with their statistics.
It also is an indicator of how many people have used up all their unemployment and drop off the roles
BINGO slacker not happy
Totally wrong. This is first time. And even just plain statss don’t care if you fall off benefits, you’re still counted if you’re not working and are looking for a job.
Unemployment numbers change as worker do.
“I suspect they are still playing games with their statistics”
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I agree. They fudged the numbers quite a bit for 2022 and there was very little reporting on it. There is no reason to believe they are being honest now.
What?
Only if you answer on a phone survey. If you answer ‘not working, but I am looking’ you are considered unemployed. If you answer ‘not working, not looking’ you’re not. It’s very simple and hasn’t changed.
We’re in a Recession, for just over two years.
A Depression is coming this Summer.
Surprising given what a bloodbath its been in the tech sector. A lot of those useless wokesters have gotten laid off in the last month or so.
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