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Last week alone, the claims stood at 198,000, adjusted for seasonal variations. That was slightly less than economists had predicted, but above the low point of the pandemic.
The number of ongoing claims, including employees who filed for benefits for at least two consecutive weeks, was 1.7 million in the week ended December 18, the lowest level since March 2020.
Even taking this volatility into account, the bottom line is: America is back at work.
Still, the pandemic isn’t over yet, so there are always some dark clouds on the horizon. At the moment that is the highly contagious Omicron variant.
So far, Omicron’s spike in Covid cases has not been reflected in the jobs data, but that doesn’t mean it won’t.
It is “a significant near-term downside risk to the job growth outlook,” Faucher said. “If consumers change their behavior and cut back on spending, especially on services, job growth could slow dramatically in early 2022.”
Happy New Year to us.
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Sources 2/ https://www.cnn.com/2021/12/30/economy/unemployment-benefits-jobless-claims/index.html The mention sources can contact us to remove/changing this article |
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