>Initial jobless claims in the US fell by 10,000 from the previous week to 214,000 on the period ending December 20th, around the commonly-volatile holiday season for new claims, and firmly below expectations of 223,000. It was the lowest reading since January of this year, with the exception of the three-year low of 192,000 on the also seasonally-volatile Thanksgiving week. Conversely, outstanding jobless claims rose for a second week to 1.92 million in the earlier week, contributing to the ongoing view that the US labor market has steadied in a backdrop of low hiring and low firing trend.
>source: U.S. Department of Labor
It’s amazing what you can come up with when your career is on the line…
AtrociousMeandering on
From the article,
“Job gains occurred in education/health services (33K), leisure/ hospitality (13K), natural resources/mining (8K) and trade, transportation and utilities (1K).”
I’d love a better breakdown because those are extremely broad categories, with vastly different implications depending on which segment the hiring is taking place in.
Given most of the news locally is about hospital closures, school consolidation, and tourism drying up, I’d welcome anyone who can illuminate this a little bit.
Nwcray on
It’s weird how all of the data was beginning to trend negative in the late summer/fall, then there was a government shutdown, then the data went dark for a little while, and what a miraculous recovery occurred during those 6 weeks or so.
Literally *every* metric – every single one – has suddenly spun around. Perhaps the greatest economic turnaround in my lifetime.
3 Comments
>Initial jobless claims in the US fell by 10,000 from the previous week to 214,000 on the period ending December 20th, around the commonly-volatile holiday season for new claims, and firmly below expectations of 223,000. It was the lowest reading since January of this year, with the exception of the three-year low of 192,000 on the also seasonally-volatile Thanksgiving week. Conversely, outstanding jobless claims rose for a second week to 1.92 million in the earlier week, contributing to the ongoing view that the US labor market has steadied in a backdrop of low hiring and low firing trend.
>source: U.S. Department of Labor
It’s amazing what you can come up with when your career is on the line…
From the article,
“Job gains occurred in education/health services (33K), leisure/ hospitality (13K), natural resources/mining (8K) and trade, transportation and utilities (1K).”
I’d love a better breakdown because those are extremely broad categories, with vastly different implications depending on which segment the hiring is taking place in.
Given most of the news locally is about hospital closures, school consolidation, and tourism drying up, I’d welcome anyone who can illuminate this a little bit.
It’s weird how all of the data was beginning to trend negative in the late summer/fall, then there was a government shutdown, then the data went dark for a little while, and what a miraculous recovery occurred during those 6 weeks or so.
Literally *every* metric – every single one – has suddenly spun around. Perhaps the greatest economic turnaround in my lifetime.