Jobs Report Expected to Show Steady Hiring
This post was originally published on this siteThe U.S. job market appears to have grown steadily in February, according to economists, as Covid-19 infections fell sharply and the country pivoted toward a post-pandemic world.
Jobless claims fall to a better-than-expected 215,000
New unemployment claims dropped and remained near “historically-low levels” for the week ended Feb. 26, “as the labor market stays tight following a decline in COVID-19 cases,” The Wall Street Journal reports Thursday.
Initial jobless claims, which are seen as a proxy for layoffs, fell by 18,000 to a seasonally-adjusted 215,000 for the last week, “down from the revised 233,000 the week before,” the Journal writes, per a Thursday Labor Department report. The 215,000 total was also the lowest since the start of the year and below the Wall Street estimate of 225,000, per CNBC.
Continuing claims, which run a week behind, crawled up to 1.47 million; the four-week moving average, however, which better factors in weekly volatility, dropped to its lowest level since April 4, 1970, CNBC reports.
The numbers are a sign that the “the labor market, despite headwinds from inflationary pressures, remains tight as the economy regains more of the jobs lost due to the pandemic in 2020,” the Journal writes. The data also arrives ahead of the Friday’s Bureau of Labor Statistics nonfarm payrolls report, in which Wall Street is hoping to see a gain of 440,000 jobs in February, per CNBC.
Federal Reserve Chairman Jerome Powell indicated Wednesday that despite the economic uncertainty surrounding the current crisis in Ukraine, the central bank is still planning to soon raise interest rates to combat inflationary pressures in the U.S.
White House braces for weak jobs report after Omicron surge coincides with data collection
This post was originally published on this siteWhite House officials are bracing for an unusually weak January jobs report due to Omicron cases peaking at the same time the monthly employment survey data was collected.
Job Market Appears Healthy Despite Omicron Headwinds
This post was originally published on this siteEconomists estimate new jobless claims fell last week, signaling fewer layoffs.
Job Openings on Track for New High Ahead of Omicron Wave
This post was originally published on this siteThere were 12 million job openings in the U.S. at the end of December, according to estimates. And the number of available workers continues to lag behind job postings.
Why the latest jobs report should calm fears of stagflation
Why the latest jobs report should calm fears of stagflation
U.S. Jobs Report Expected to Show Rebound in Hiring
This post was originally published on this siteU.S. job growth likely rebounded last month but not enough to return to the higher pace from earlier this year, with a shortage of workers and other effects from the pandemic weighing on the economy.
Unemployment Claims Likely Extended Drop
This post was originally published on this siteWorker filings for jobless benefits fell through much of the summer despite a surge in Covid-19 cases caused by the Delta variant.
Jobless Claims Likely Held Near Low Levels
This post was originally published on this siteEconomists expect a Labor Department report to show that filings for unemployment benefits remained near a pandemic low last week as employers contend with a tightening labor market.
What’s going on with jobs? 5 takeaways from September hiring trends
This post was originally published on this siteJob growth was disappointing in September as worker shortages intensified, but a drop in COVID-19 cases could strengthen hiring in the coming months.
