A hopeful sign for the economy as initial jobless claims fell for the week ending January 22nd, according to the weekly data from the Department of Labor…(DOL)
- Initial claims were 260,000, a decrease of 30,000 from the previous week’s revised level.
- Economists hit the nail on the head predicting a drop to 260k
Continuing claims, unfortunately, saw an increase for the week ending January 15th…
- Continuing claims were 1.675M, an increase of 51,000 from the previous week’s revised level.
- Economists had projected a smaller increase to 1.65M.
David Mericle, chief U.S. economist at Goldman Sachs’s Global Investment Research, told the Wall Street Journal that recent rise in jobless claims was direct results of Omicron…
- “With labor demand so strong, I’m doubtful that many of these people are really losing their jobs…And even if they are…they presumably are able to find new ones pretty easily.”