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Market Trends
Weekly Economic Review | November 27, 2023
Nov 27, 2023
The Labor Department reported that initial jobless claims declined last week as employers retained workers ahead of the Thanksgiving holiday. The rising trend in continuing claims though suggest unemployed workers are finding it increasingly difficult to find new jobs. Claims in regular state programs decreased 24,000 to 209,000 from the prior week’s upwardly revised 233,000 for the week ending November 18th. The four-week moving average dropped to 220,000 from 220,750 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, decreased 22,000 to 1.840 million for the week ending November 11th.
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Market Trends
Weekly Economic Review | November 20, 2023
Nov 20, 2023
The Labor Department reported that initial jobless claims rose to the highest level since August 19th, with continuing applications climbing to the highest level in almost two years. The gains in applications indicate the labor market is cooling and raises the likelihood of an economic slowdown. Claims in regular state programs increased 13,000 to 231,000 from the prior week’s upwardly revised 218,000 for the week ending November 11th. The four-week moving average climbed to 220,250 from 212,500 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 32,000 to 1.865 million for the week ending November 4th. This is the eighth straight increase in continuing claims.
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Market Trends
Weekly Economic Review | November 13, 2023
Nov 13, 2023
The Labor Department reported that initial jobless claims edged lower last week, while recurring applications for unemployment benefits rose for a seventh straight week to the highest level since April 15th. The labor market is becoming increasingly vulnerable as the climbing continued jobless claims signal a weakening labor sector. Claims in regular state programs decreased 3,000 to 217,000 from the prior week’s upwardly revised 220,000 for the week ending November 4th. The four-week moving average climbed to 212,250 from 210,750 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 22,000 to 1.834 million for the week ending October 28th.
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Market Trends
Weekly Economic Review | November 6, 2023
Nov 6, 2023
The Labor Department reported that initial jobless claims increased last week, while recurring applications for unemployment benefits rose for a sixth straight week to the highest level since April. Companies are adding jobs at a healthy pace and the unemployment rates remain low, but the pace of hiring is losing steam, making it more difficult for some job seekers to find work. Claims in regular state programs increased 5,000 to 217,000 from the prior week’s upwardly revised 212,000 for the week ending October 28th. The four-week moving average climbed to 210,000 from 208,000 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 35,000 to 1.818 million for the week ending October 21st.
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Market Trends
Weekly Economic Review | October 30, 2023
Oct 30, 2023
The Labor Department reported that initial jobless claims edged higher last week from very low levels, but continuing unemployment insurance claims surged indicating layoffs are low but workers are finding it increasingly difficult to find new jobs. Claims in regular state programs increased 10,000 to 210,000 from the prior week’s upwardly revised 200,000 for the week ending October 21st. The four-week moving average climbed to 207,500 from 206,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 63,000 to 1.790 million for the week ending October 14th.
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Market Trends
Weekly Economic Review | October 16, 2023
Oct 16, 2023
The Labor Department reported that initial jobless claims remain stable even as the United Auto Workers strike approached the one-month mark. Claims in regular state programs remained unchanged at 209,000 for the week ending October 7th. The four-week moving average declined to 206,250 from 209,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 30,000 to 1.702 million for the week ending September 30th.
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Market Trends
Weekly Economic Review | October 9, 2023
Oct 9, 2023
The Labor Department reported that initial jobless claims remained at historically low levels last week, edging higher from the prior week. The small rise in jobless claims suggest layoffs remain low, but this could change the longer the United Auto Workers strike persists. Claims in regular state programs climbed 2,000 to 207,000 from the prior week’s upwardly revised 205,000 for the week ending September 30th. The four-week moving average declined to 208,750 from 211,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, decreased 1,000 to 1.664 million for the week ending September 23rd.
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Market Trends
Weekly Economic Review | October 2, 2023
Oct 2, 2023
The Labor Department reported that initial jobless claims edged higher from very low levels last week. With layoff activity at such low levels, it seems to be the case that workers who are laid off are finding new work opportunities with relative ease, or realized layoff activity is far less than what is announced by large businesses. Jobless claims are set to accelerate in coming weeks after the United Auto Workers union expanded its strike to 38 locations and 20 states. Claims in regular state programs climbed 2,000 to 204,000 from the prior week’s upwardly revised 202,000 for the week ending September 23rd. The four-week moving average declined to 211,000 from 217,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 12,000 to 1.670 million for the week ending September 16th.
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Market Trends
Weekly Economic Review | September 25, 2023
Sep 25, 2023
The Labor Department reported that initial jobless claims were down last week to the lowest level since January. The data indicates that layoff activity remains moribund. There have been brief periods of elevated counts during 2023, specifically in June, but these periods have been short-lived and often explainable by special factors. Claims in regular state programs declined 20,000 to 201,000 from the prior week’s upwardly revised 221,000 for the week ending September 16th. The four-week moving average declined to 217,000 from 224,750 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, decreased 21,000 to 1.662 million for the week ending September 9th.
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Market Trends
Weekly Economic Review | September 18, 2023
Sep 18, 2023
The Labor Department reported that initial jobless claims edged higher this week from the lowest levels since February. Businesses continue to be reluctant to let go of workers they struggled to find over the last three years. While excess demand for labor has been dissipating, we have yet to see layoff activity pick up. Claims in regular state programs climbed 3,000 to 220,000 from the prior week’s upwardly revised 217,000 for the week ending September 9th. The four-week moving average declined to 224,500 from 229,500 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, increased 4,000 to 1.688 million for the week ending September 2nd.
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