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Tight Labor Market Keeping Jobless Claims in Check

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Jobless claims declined to 293,000 last week, the first time they fell below 300,000 since the pandemic began

Unemployment claims are holding near the lowest levels since early 2020, as employers cling to workers in a competitive labor market.

Economists surveyed by The Wall Street Journal estimate jobless claims fell to 318,000 last week from 326,000 a week earlier. Claims, a proxy for layoffs, remain near their lowest levels since the coronavirus pandemic’s onset. Initial claims reached a pandemic low of 312,000 in the week ended Sept. 4.

 

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No more enhanced unemployment benefits. Have to get back to work.

This number means nothing because it doesn’t include jobless with exhausted claim status, and former numbers include claimants who now choose to not work.

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