WASHINGTON: The number of Americans filing new claims for unemployment benefits unexpectedly rose in the first week of January amid Covid-19 infections, but remained at a level in line with increasingly tight labor market conditions.
Initial claims for state unemployment benefits rose by 23,000 for the week ending January 8, to a seasonally adjusted 230,000 Labour Department said on Thursday. Economists polled by Reuters had forecast 200,000 applications for the latest week.
Claims remain below their pre-pandemic levels, a sign of consolidating labor market conditions. They have fallen from a record high of 6.149 million in early April 2020.
Despite the rise in coronavirus cases, applications for jobless benefits remain low, powered by omicron The variant, which has disrupted activities from airlines to schools as workers call in sick. With 10.6 million job openings at the end of November, employers are hanging on to their employees.
The government reported last Friday that the unemployment rate fell to a 22-month low of 3.9 percent in December, a sign that the labor market is at or near maximum employment.
The workforce is about 2.2 million smaller than it was before the pandemic.
federal ReserveThe Beige Book’s report on Wednesday of anecdotal information on business activity collected from contacts nationwide on or before January 3 showed that many were allowing part-time work or adjusting qualifications to “attract more applicants and allow more applicants.” To retain the existing workforce.”
Sluggishness in a shrinking labor market and rising inflation are leading economists to expect irrigated Will raise interest rates in March Consumer prices in December rose 7% year-on-year, the biggest gain since June 1982.
Initial claims for state unemployment benefits rose by 23,000 for the week ending January 8, to a seasonally adjusted 230,000 Labour Department said on Thursday. Economists polled by Reuters had forecast 200,000 applications for the latest week.
Claims remain below their pre-pandemic levels, a sign of consolidating labor market conditions. They have fallen from a record high of 6.149 million in early April 2020.
Despite the rise in coronavirus cases, applications for jobless benefits remain low, powered by omicron The variant, which has disrupted activities from airlines to schools as workers call in sick. With 10.6 million job openings at the end of November, employers are hanging on to their employees.
The government reported last Friday that the unemployment rate fell to a 22-month low of 3.9 percent in December, a sign that the labor market is at or near maximum employment.
The workforce is about 2.2 million smaller than it was before the pandemic.
federal ReserveThe Beige Book’s report on Wednesday of anecdotal information on business activity collected from contacts nationwide on or before January 3 showed that many were allowing part-time work or adjusting qualifications to “attract more applicants and allow more applicants.” To retain the existing workforce.”
Sluggishness in a shrinking labor market and rising inflation are leading economists to expect irrigated Will raise interest rates in March Consumer prices in December rose 7% year-on-year, the biggest gain since June 1982.
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