Jobless claims rise first time in a month

Jobless claims rise first time in a month

Feb 18, 2022

428 Views

0 comments

After three weeks of decline, more Americans applied for jobless claims last week. The Labor Department said on Thursday that last week, jobless claims rose by 23,000 to 248,000. Economists cite the lingering effects of the Omicron variant as a reason for the rise. 

Economist Ian Shepherdson said in a report, "The trend is still falling, unwinding the hit from the Omicron Covid wave, and claims likely will drop next week." He added, "The pre-Omicron low was [188,000] in the first week of December; we expect that to be reached again by late March."

The 4-week average for claims fell by 10,500 to 243,250. It was the second straight week of declines seen after rising for five weeks as the Omicron variant disrupted businesses in many parts of the US. In total, less than 1.6 million Americans were collecting jobless aid last week, with a decrease of about 26,000 from the previous week. There are about 4 million more job openings than unemployed workers and overall the job market is still healthy. Hiring remains strong and employers added  467,000 jobs last month.

Source: CBS News 

Previous days news

Comments

    Article
    Millennials Care About These 8 Things at Their Workplace - Are Your Offering Those?

    Millennials are considered to be social people, who live by the ‘work hard play hard’ mantra and ar ...

    The Interviewer's Guide to Conducting Phone Interviews

    The job market in the US is slowly gaining traction after the long period of gloom that took the un ...

    Don’t Fall Prey to These Job Scams

    When people are looking frantically for employment, scammers get a chance to exploit their weakness ...

    10 Tips to Help You Ace an Online Interview Amidst COVID-19 Crisis

    Online interviews have been rising in popularity for quite some time now. It has increased by 49% s ...

    Show more news