The number of new applications for unemployment benefits fell by 2,000 to 190,000 last week, the Labor Department reported Thursday.
The weekly jobless claims number has been closely watched over the past year, given the Federal Reserve has raised interest rates several times in the past year, including a few massive hikes, to drive down inflation, which is running at 6.4%, according to the consumer price index.Rate hikes naturally depress economic activity and thus are expected to lead to job loss, although the labor market has been surprisingly resilient.
The rise in the CPI (measure of inflation) is running a full 2 percentage points ahead of the rise in wages. People R falling behind. 170 Million at least, R living paycheck to paycheck & increasing their debt. National debt exceeds our production value. Stop cheerleading…!
Workers getting second jobs.
Garbage. You can’t judge solely by jobless claims. Many aren’t eligible to receive unemployment benefits. Jobs are clearly being lost, everyone sees it all around us.
Does this factor in the UBI statistics?
We measure in weeks now?