U.S. unemployment claims climb to four-month high of 218,000

[mystery-ak]

 U.S. unemployment claims climb to four-month high of 218,000
Last Updated: May 19, 2022 at 9:36 a.m. ET
First Published: May 19, 2022 at 8:37 a.m. ET

Most of the increase in jobless claims took place in just a few states, but economists are watching for signs of rising layoffs

The numbers: New U.S. jobless claims rose to a four-month high of 218,000 last week, but most of the increase appeared tied to just a few states such as Kentucky and California. The number of people applying for unemployment benefits was still extremely low.

Applications for unemployment benefits climbed by 21,000 from 197,000 in the prior week,  the Labor Department said Thursday.

Economists polled by the Wall Street Journal forecast initial jobless claims to total 200,000 in the seven days ended May 14. The figures are seasonally adjusted.

Applications for unemployment benefits fell to a 54-year low of 166,000 in March and have hovered around 200,000 since the beginning of the year.

Big picture:  The labor market is still extremely strong. Job openings are at record highs and many companies complain they can’t find enough workers.

more
https://www.marketwatch.com/story/u-s-unemployment-claims-climb-to-four-month-high-of-218-000-11652963872

[mystery-ak]

Biden takes another unemployment victory lap despite crippling inflation
by Christian Datoc, White House Reporter |
 | May 19, 2022 12:00 PM


more
https://www.washingtonexaminer.com/news/white-house/biden-takes-another-unemployment-victory-lap-despite-crippling-inflation

[GtHawk]

Not so surprising, I imagine some people are actually coming out ahead on unemployment and food stamps instead of paying the high cost of gas to get to and from work. In fact I bet some people will even have a higher standard of living, especially when they qualify for insurance like MediCal or their states equivalent. I mean why should the illegals be the only ones living the good life at taxpayer expense. Maybe too some are expecting the democrats to give out more free money.

I'm saddened that Psaki is no longer standing at the podium so that she can tell us all how this is just another sign of Biden's booming economy.

[DefiantMassRINO]

I can undertsand unemployment increasing in California, but why Kentucky?  Have Mitch McConnell's U.S. Chamber of Commerce friends moved more jobs overseas?