Jobless Claims Unexpectedly Tumble Again: Sixth Straight Week Below 200,000

[mystery-ak]

Jobless Claims Unexpectedly Tumble Again: Sixth Straight Week Below 200,000
John Carney

The number of people applying for jobless benefits in the U.S. declined again last week to 192,000, marking the sixth consecutive week in which new claims have come in below 200,000.

The Labor Department said initial claims for state unemployment benefits dipped by 3,000 in the week that ended 0n February 18. The prior week’s estimate was revised up by 1,000 to 195,000.

The labor market has been surprisingly resilient this year following last year’s record pace of hikes by the Federal Reserve that central bank officials have described as an effort to bring down demand for workers. In January, the U.S. economy added 517,000 jobs and employers started the month with more than 11 million job openings, suggesting that the stance of monetary policy is not yet restrictive enough to bring the labor market into better balance.

Jobless claims can be volatile week-t0-week so many economists prefer to look to the four-week moving average of claims to discern the underlying trend in the labor market. Right now the average is telling the same story as the weekly numbers: the labor market is incredibly strong. The four-week average declined by 1,500 to 181,250.

more
https://www.breitbart.com/economy/2023/02/23/jobless-claims-unexpectedly-tumble-again-sixth-straight-week-below-200000/

[catfish1957]

Before bringing out the whoopie hats and noisemakers for pedo Joe's talking point pencil heads, take a look at this Statista graph that perfectly encapsualtes the conditon of the what the workers are experiencing in the United States right now.  I know it's a few months outdated, but I would venture that the disparity of wage increase and inflation as actually gotten worse, in 4Q '22, and 1Q '23.

You think CNBC would bring these things out in the open?   

[mystery-ak]

AKorn Pharmaceuticals in Decatur just fired 400 people here in Decatur Il...devastating this community


Macon County
Akorn Pharmaceuticals announces bankruptcy, lays off hundreds in Decatur

DECATUR, Ill. (WCIA) — Akorn Pharmaceuticals has announced they are filing Chapter 7 bankruptcy and laying off hundreds in Decatur.

In a company-wide video call, Akorn President Douglas Boothe announced to employees that Wednesday would be the last day they can visit the office to pack up their belongings.

Mayor of Decatur Julie Moore Wolfe estimates about 450 workers were laid off by Akorn.

Boothe said the company had been looking for potential buyers since last year.

more
https://www.wcia.com/macon-county-2/akorn-pharmaceuticals-announces-bankruptcy-lays-off-hundreds-in-decatur/

[catfish1957]

AKorn Pharmaceuticals in Decatur just fired 400 people here in Decatur Il...devastating this community


Macon County
Akorn Pharmaceuticals announces bankruptcy, lays off hundreds in Decatur

DECATUR, Ill. (WCIA) — Akorn Pharmaceuticals has announced they are filing Chapter 7 bankruptcy and laying off hundreds in Decatur.

In a company-wide video call, Akorn President Douglas Boothe announced to employees that Wednesday would be the last day they can visit the office to pack up their belongings.

Mayor of Decatur Julie Moore Wolfe estimates about 450 workers were laid off by Akorn.

Boothe said the company had been looking for potential buyers since last year.

more
https://www.wcia.com/macon-county-2/akorn-pharmaceuticals-announces-bankruptcy-lays-off-hundreds-in-decatur/

More of the same from Pedo Joe, and part of the hush hush secret of how he is destroying our manufacutring base, and inevitably the country.

Those 450 are not on the same plane as 450 service industry or government jobs.  I don't know if it has changed, but in the past economic planners have considered that mfg. jobs have a stealth 4-5X factor, when it takes in account all the industries that serve these plants, the retail, the restuarants, etc. This is basically "net worth" leaving the scene.  Or a true loss of about 2000 workers if it is put in full employment terms.

[rustynail]

More Vigor.  A Vigorous President and Vigorous economy.

[DefiantMassRINO]

Oh, the Federal Reserve won't like this.  The Federal Reserve doesn't like when wage earners do well. 

Funny, the Fed never sabotages the economy to fight Executive Compensation inflation.