Unemployment claims reach highest level in three months

Jan 21, 2022
484 views
0 comments
Share
Workplace Wellness

The number of jobless claims filed by Americans last week has jumped to its highest level in three months. This is another sign that the ongoing wave of the Omicron variant is hitting the job market. The US Labor Department reported on Thursday that 286,000 applied for first-time unemployment benefits last week, which is an increase from the 55,000 from the previous week. That's the highest number of jobless claims since mid-October.

Economists attribute this jump in claims to the rise in coronavirus cases. Nancy Vanden Houten, lead economist with Oxford Economists said, "The rise in claims reflects both an increase in layoffs due to the surge in Covid cases as well as an added boost from large seasonal adjustment factors." The latest surge of the virus has weighed on the strong comeback from the coronavirus recession of 2020. Jobless claims are a proxy for layoffs and had fallen steadily for a year. In late 2021, these numbers had fallen below the pre-pandemic average of around 220,000 a week.

According to the Census Bureau, nearly 9 million workers said they weren't working in the first week of January because they tested positive for covid 19 or because they were caring for someone who had the virus. Overall, the job market remains tight as illnesses keep workers out of their jobs.

Source: CBS News

484 views
0 comments

Tags In

Remote Working Rural Unemployment

Previous days news

Jan 19 Jan 17 Jan 14 Jan 13 Jan 12

Best tech jobs in the United States : BLS data

Sep 06, 2022
1396 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
853 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
1432 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
840 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
1438 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Unemployment claims reach highest level in three months

Unemployment claims reach highest level in three months

Tags In

Others news

Category

Tags

Articles