Initial claims for state unemployment benefits fell by 16,000 to 193,000 in the week ended September 24, the Labor Department said Thursday.
That’s the lowest level of claims since late April. Economists had expected claims to rise after the very low 213,000 figure reported for the prior week. Federal Reserve officials have said they are aiming to cool off the labor market by hiking rates, seeing that as a key part of their fight to tame inflation. So far, however, the labor market remains sizzlingly hot. The unemployment rate in August was 3.7 percent, a historically low number and below what most economists think is sustainable without inducing high inflation.
2/ If this sticks, it could result in further declines in the unemployment rate – i.e. the job market getting tighter again.
On track to be like early 80s, 12% home loans, get 10% increase and lose buying power was not fun starting a family, but at least the government did not force it to happen on PURPOSE!
We should stop judging the economy on jobless claims. It should be judged on participation percentage. PSA: if the fed government would make it less profitable to f’off on the couch, the FED would not need to bankrupt the people who actually go to work.
GDI drop sharply
A deep recession with fake maximum employment numbers is even more of a black eye on the Biden regime.
Phony numbers; they do not count people not looking. Just like everything with the Biden Administration, that is, all lies.
Unemployment insurance all maxxed out !
Anecdotal evidence: There's a bidding war for qualified automotive mechanics here in Albany NY.
Current labor market condition will likely keep the FED on track to aggressively tighten monetary policy at the next meeting in November
Please. The Democrats cook all the books every month. None of the numbers they publish are real. What's crazy is that even the fake numbers are so bad, they have to gaslight them afterword. Sure 😉 jobless claims are down [states the liars leading into the mid-terms]. 🙄 🤡🌎
Maybe they gave up
Why does Breitbart hate America?
Let’s go Brandon!
THAT’S A GOOD THING
YAY JOE!