Impact of Omicron Variant Spikes Initial Jobless Claims to Highest Level Since October

Initial jobless claims spiked higher this week by 55,000 to 286,000 depicting the negative impact the Omicron variant is having on an already tight labor market. The four-week moving average for initial claims increased by 20,000 to 231,000, up from at 199,250, the lowest it had been since October 25, 1969, which reflected the tightness of the labor market before Omicron. Americans filing for unemployment benefits had fallen to the lowest level of initial claims in 52 years. The BLS … Continue reading “Impact of Omicron Variant Spikes Initial Jobless Claims to Highest Level Since October”

US Added Lowest New Jobs In 12 Months in December with Just 199,000 But Wages Higher

US in December added 199k non-farm payrolls jobs, less than forecasted 450k. November previous 210K revised to +249K. Wages increased more than expected and the jobless rate fell to the lowest since February 2020 to 3.9%. US Average Hourly Earnings (M/M) rose 0.6%. Change in private payrolls +211K Change in manufacturing payrolls +26K December 2021 U.S. Employment Report The Covid-19 virus again threatens the global economy again.  Is this Deja vu? As the world’s economy was shut down and much … Continue reading “US Added Lowest New Jobs In 12 Months in December with Just 199,000 But Wages Higher”

52 Year Low Initial Jobless Claims Underscores the Tightness of US Labor Market

Initial jobless claims continue to fall. The four-week moving average for initial claims at 199,250 is the lowest it has been since October 25, 1969, which reflects the tightness of the labor market. Americans filing for unemployment benefits fell to the lowest level of initial claims in 52 years. The labor market continues to recover from the coronavirus economic burdens. Demand for workers remains strong as the economy rebounds. US initial jobless claims and continuing claims for current week Initial … Continue reading “52 Year Low Initial Jobless Claims Underscores the Tightness of US Labor Market”

US Added Lowest New Jobs In 11 Months in November With Just 235,000

US in November added 235k non-farm payrolls jobs, less than forecasted 536k. October previous 531K revised to +604K. Unemployment rate fell to 4.2%. US Average Hourly Earnings (M/M) rose 0.3% Change in private payrolls +235K Change in manufacturing payrolls +31K November 2021 U.S. Employment Report The Covid-19 virus again threatens the global economy again.  Is this Deja vu? As the world’s economy was shut down and much of America had stay at home orders the threat of Oricon is causing … Continue reading “US Added Lowest New Jobs In 11 Months in November With Just 235,000”

US Job Cuts Fall To Lowest Since May 1993

US companies Job cuts fell 34.8 percent from a month earlier in November 2021 and 77 percent from a year earlier to 14,875. This was the lowest since May 1993. Companies are battling to keep workers amid a tight labor market.  The technology sector had the most job cuts with 1980. While not a surprise, the severity underscores the impact that has caught Fed officials off guard Job Cuts Highlights Companies in the technology sector announced the most job cuts … Continue reading “US Job Cuts Fall To Lowest Since May 1993”

ADP Reports US Added 534K Jobs In November With Service Sector Adding 424K

Private payroll company ADP reported that US jobs grew 534,000 in November. The US Labor Department will report It’s jobs report on Friday. October added downwardly revised 570K increase with market expectations Adding 525K. ADP US November 2021 Employment Report ADP report private businesses in the United States hired 534 thousand workers in November 2021, compared with a downwardly revised 570 thousand increase in October and beating market expectations of a 525 thousand rise, as the labor market continued to … Continue reading “ADP Reports US Added 534K Jobs In November With Service Sector Adding 424K”

US Initial Jobless Claims Hit Lowest Since 1969

Initial jobless claims continue to fall. Americans filing for unemployment benefits fell to the lowest level of initial claims since November 15, 1969. The labor market continues to recover from the coronavirus economic burdens. Initial claims by 71,000 to 199,000 in the week ended November 20th. Demand for workers remains strong as the economy rebounds. US initial jobless claims and continuing claims for current week Initial jobless claims 20 Nov 199K vs 265K estimate. Prior week 268k revised to 270k … Continue reading “US Initial Jobless Claims Hit Lowest Since 1969”

US Jobless Claims Hit New Pandemic Low

Americans filing for unemployment benefits fell to a new pandemic low as the labor market continues to slowly recover from the coronavirus economic burdens. Initial claims by 1K to 268K in the week ended November 13th. Demand for workers remains strong. However claims remain above the 2019 weekly average of 218K.  US initial jobless claims and continuing claims for current week Initial jobless claims 12 Nov 268K vs 260K estimate. Prior week 267k revised to 269 This is the lowest … Continue reading “US Jobless Claims Hit New Pandemic Low”

US Added 531,000 Jobs in October With Lower Unemployment Rate as Participation Slips Again

US in October added 531k non-farm payrolls jobs more than forecasted 425k. September prev 1945K (revised to +312K). Unemployment rate fell to 4.7%. US Average Hourly Earnings (M/M) rose 0.4% Change in private payrolls +604K Change in manufacturing payrolls +60K

US Added Just 194,000 Jobs in September With Lower Unemployment Rate as Participation Slips

US in September added just 194k non-farm payrolls jobs less than forecasted 500k. August prev 235K (revised to +366K). Unemployment rate fell to 4.8%. US Average Hourly Earnings (M/M) rose 0.6% as wages pick not encouraging for the transitory argument