Jobless Claims Unexpectedly Drop to 215,000

[mystery-ak]

Jobless Claims Unexpectedly Drop to 215,000

John Carney 23 May 2024

Jobless claims declined by more than expected last week, falling to 215,000 from 223,000 in the prior week.

This the second straight week of declining claims after a brief spike in the first week of May that appeared to be driven by seasonal employment changes around spring break, particularly in New York’s school system.

Jobless claims are a proxy for layoffs. The low level of claims affirms that layoffs are low and demand for workers is high. The strong labor market has been supporting elevated consumer spending and economic growth.

Economists had forecast around 220,000 new claims.

Continuing claims, those made by people collecting unemployment benefits after their initial week, rose by 8,000 to 1.79 million, the government said. Continuing claims have been very steady and are close to historically normal levels.

https://www.breitbart.com/economy/2024/05/23/joblessclaims-6/

[Wingnut]

Oh joy! More proof Bidenomics is working!  /s

[DefiantMassRINO]

Isn't it the start of the Summer hiring season and recent college grads seeking employment?

[LMAO]

Isn't it the start of the Summer hiring season and recent college grads seeking employment?

No

Recruitment cools down during the hottest time of the year. A 2023 survey from The Vacationer3 found that 85% of Americans planned to travel during the summer. This makes the summer months notoriously slow for hiring.

With key employees out of the office, reduced productivity can occur. Plus, job seekers who are enjoying their time off may have limited availability for interviews. Many companies also use up their human resources budget for hiring before the summer begins. However, even though this is a slow time for recruitment, it can still be possible to find great new hires. It may just be more of a challenge.



https://www.peoplekeep.com/blog/when-is-hiring-season?hs_amp=true