US applications for jobless claims fall to lowest level in 9 weeks

[BumRushDaShow]

Source: ABC News/AP

April 25, 2024, 8:41 AM


Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation.

The Labor Department reported Thursday that unemployment claims for the week ending April 20 fell by 5,000 to 207,000 from 212,000 the previous week. That's the fewest since mid-February.

The four-week average of claims, which smooths out some of the weekly up-and-downs, ticked down by 1,250 to 213,250.

Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.

Read more: https://abcnews.go.com/Business/wireStory/us-applications-jobless-claims-fall-lowest-level-9-109621026

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From the source -

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U.S. Department of Labor
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Unemployment Insurance Weekly Claims

Initial claims were 207,000 for the week ending 4/20 (-5,000).

Insured unemployment was 1,781,000 for the week ending 4/13 (-15,000).

https://dol.gov/ui/data.pdf
Unemployment Insurance Weekly Claims dol.gov
8:31 AM · Apr 25, 2024

[Botany]

1. Best President of my lifetime.

[PatSeg]

2. I agree

And possibly the least appreciated.

[Midnight Writer]

3. And the stock markets immediately tank.

Our big money players think that too many commoners getting jobs will bite into their share of the pie. The prevailing wisdom is that if too many people are working, they will spend more money and fuel inflation. They hate inflation, but love greedflation.

GDP growth is down, too. Is this because the greedflation artificially boosted growth of corporations, and that now that the greedflation is waning the growth is slowing down?

[BumRushDaShow]

4. The markets are WAAAAAAAAYYYYYY overdue for a correction

notably a 10% one. It's gotta happen and the sooner the better (either well before or sometime after the election).