Rebound: Jobless Claims Return to Near Record Lows
Weekly claims can be volatile but this suggests that the spike in claims around Thanksgiving was a statistical illusion.
Weekly claims can be volatile but this suggests that the spike in claims around Thanksgiving was a statistical illusion.
Continuing claims, a measure of pain in the economy, also fell. Despite lots of talk about tariffs, there are no signs these are holding back the labor market.
Jobless claims came in much higher than expected.
Layoffs remain ultralow, defying predictions that the trade war with China would weigh on the U.S. labor market.
The labor market looks very strong right now and there are no signs tariffs are costing jobs.
Despite the unexpected rise, new claims for unemployment benefits remain near 49-year lows.
Jobless claims fall to 207,000 vs. 213,000 expected.
First-time claims for state unemployment benefits came in at 201,000, down from 204,000 in the previous week. Economists had predicted a rise to 210,000.
Record lows indicate that tariffs are not costing jobs for American workers.
The median U.S. household income rose for the third year in a row in 2017, according to data from the U.S. Census Bureau released Wednesday.
Economists had expected 213,000 jobless claims, level with the prior week.
The number of Americans filing for unemployment benefits unexpectedly fell last week.
Jobless claims unexpectedly fell last week and price data suggests inflation is still muted.
Initial claims for state unemployment benefits rose by 1,000 last week to a seasonally adjusted 218,000. Economists had forecast 220,000.