Jobless Claims Unexpectedly Tumble to 228,000

[mystery-ak]

Jobless Claims Unexpectedly Tumble to 228,000
John Carney


The labor market remains extraordinarily resilient.

New claims for unemployment benefits fell by 9,000 to 228,000 in the week that ended June 15, the Labor Department said Thursday.

The four-week moving average of claims fell by 9,250 to 237,500. Initial jobless claims are a proxy for layoffs. They have remained very low despite the Federal Reserve’s 10 interest rate hikes.

Continuing claims, which are reported with a one week delay, rose by 33,000 to 1,754,000 for the week that ended July 8. The four week moving average of ongoing claims fell by 1,750 to 1,731,500. Even after the increase, this is a historically low level of continuing claims.

Economists had forecast an increase in claims to 241,000.

https://www.breitbart.com/economy/2023/07/20/jobless-claims-unexpectedly-tumble-to-228000/

[GtHawk]

Is this expectation to be followed by the usual jobless claims unexpectedly higher reports?

[catfish1957]

As with the inflation numbers, anyone who believes anything from this government is gullible as hell.

[sneakypete]

This is probably due to so many people having already "timed out" on their unemployment benefits.

[LMAO]

The one bright spot in the economy is the labor market. It's easy to get a job. Just the paycheck from the job doesn't go as far as in years past

[libertybele]

The one bright spot in the economy is the labor market. It's easy to get a job. Just the paycheck from the job doesn't go as far as in years past

Interesting -- does that mean a lot of people of dropped out of the labor market and onto government assistance or are working from home? Perhaps a lot of people retired?