New weekly jobless claims dipped last week to come in near consensus estimates, trending down but still coming in well above pre-pandemic levels as the labor market’s recovery trudges forward. The Labor Department released its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended July 31: 385,000 vs. 383,000 expected and a revised 399,000 during prior… Source link
Read More »Economy adds back 850,000 payrolls, unemployment rate ticks up to 5.9%
The U.S. economy added back jobs for a sixth straight month in June, with job growth picking up speed alongside the reopening economy. The U.S. Labor Department released its June jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: 850,000 vs. 720,000 expected and an upwardly revised 583,000 in May Unemployment rate: 5.9% vs. 5.6% expected and 5.8% in May Average hourly… Source link
Read More »Another 364,000 Americans filed new unemployment claims last week
New weekly jobless claims fell back below the 400,000 level for the first time in three weeks, resuming improvements after a brief bump higher in initial filings. The Department of Labor released its weekly report on new jobless claims Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg: Initial jobless claims, week ended June 26: 364,000 vs. 388,000 expected and an upwardly revised 415,000 during prior week Continuing… Source link
Read More »Another 411,000 Americans filed new unemployment claims last week
New weekly jobless claims resumed declining last week but by a smaller than expected margin, underscoring the still-choppy recovery in the U.S. labor market. The Department of Labor released its weekly report on new jobless claims on Thursday at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus data compiled by Bloomberg: Initial jobless claims, week ended June 19: 411,000 vs. 380,000 expected and an upwardly revised 418,000 during prior week Continuing claims,… Source link
Read More »‘Extremely cruel move:’ Jobless workers brace for early end to unemployment benefits in 25 states
On Saturday, the $380 in weekly jobless benefits Robyn Gregorieff and her husband had depended on for basic needs is getting slashed by 79%, leaving the couple with just $80 a week to live on. She would have been entitled to the larger amount until September if her home state of Alaska didn’t cancel federal unemployment programs early due to mounting concerns over labor shortages. “It makes no sense because the federal government is paying that,” the 43-year-old Gregorieff told Yahoo… Source link
Read More »Unusually ‘generous’ unemployment benefits weighing on job market rebound: Goldman Sachs
Goldman Sachs thinks the surprisingly lackluster April jobs report could be partially explained on the generosity of Uncle Sam. “We see two partial explanations for the payrolls disappointment. First, reopening effects likely overlapped with normal seasonal hiring patterns, resulting in less-impressive job gains on a seasonally-adjusted basis. Second, labor supply appears to be tighter than the unemployment rate suggests, likely reflecting the impact of unusually generous unemployment… Source link
Read More »Labor Secretary rejects claims that enhanced unemployment benefits are keeping workers on sidelines
After a hugely disappointing April jobs report, U.S. Labor Secretary Marty Walsh rejected claims from Republicans and some businesses that enhanced unemployment benefits are keeping workers from going back to work. The Labor Department reported the U.S economy added back just 266,000 jobs last month, sharply missing economists’ expectations of 1 million. “266,000 jobs under normal circumstances — and we’re certainly not living in normal circumstances — would be a good month,” said… Source link
Read More »Another 610,000 Americans likely filed new unemployment claims
TipRanks Goldman Sachs: These 2 Stocks Are Poised to Double (or More) The new week kicked off on a negative note, as all 3 major indexes pulled back from record highs. After applauding recent strong economic data, the worsening global coronavirus situation appeared to have soured investor sentiment. But according to Goldman Sachs chief US equity strategist David Kostin, investors shouldn’t get too worked up. The overall trend remains upward, and Kostin points out that volatility – the… Source link
Read More »Payrolls rise by 916,000, unemployment rate drops to 6.0%
The U.S. economy brought back more jobs than expected in March, presaging even faster employment growth in the coming months as more Americans become vaccinated and jobs across industries return. The Department of Labor released its March employment report Friday at 8:30 a.m. ET. Here were the main metrics in the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: +916,000 vs. +660,000 expected and a revised +468,000 in February Unemployment rate:… Source link
Read More »New unemployment claims unexpectedly rose to 719,000 last week
TipRanks Keep on Buying These 3 EV Stocks, Says Analyst Following Conference Investors are always on the lookout for the next big thing, the next industry that will bring the great returns. Predicting what stock sector will blast off is an inexact science, at best; but like politics, stocks run downstream from culture. And right now, culture is all-in for clean energy and electric cars. Observing the electric vehicle (EV) stock sector for Colliers Securities is industry expert Michael Shlisky…. Source link
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