Saturday , May 21 2022
Home / The Angry Bear / Continuing Unemployment Claims Make New 45+ Year Low

Continuing Unemployment Claims Make New 45+ Year Low

Summary:
Continuing unemployment claims make new 45+ year low – by New Deal democrat New claims increased 23,000 last week to 230,000. The 4 week average of new claims increased 6,250 to 210,750: The big increase is likely affected by seasonality. It’ll be another week or two before we can tell if there is any real change in trend. If there is, it is likely to be a flattening in new claims rather than any significant increase.  Continuing claims for jobless benefits, meanwhile, declined by 194,000, to 1,559,000: This is a new 45+ year record low. There haven’t been continuing claims this low since 1974, when the US population was half of what it is now, as shown in the graph below that subtracts 1,559,000 from the actual number: Last

Topics:
NewDealdemocrat considers the following as important: , , ,

This could be interesting, too:

run75441 writes Not the Proud Ones or the Oathers this time

NewDealdemocrat writes With the Fed already having begun to “stomp on the brakes,” inflation is still running very hot

run75441 writes Medicaid Estate Recovery imposed on Medicaid enrollees

NewDealdemocrat writes Real wages unchanged, real aggregate payrolls rose slightly in April

Continuing unemployment claims make new 45+ year low – by New Deal democrat

New claims increased 23,000 last week to 230,000. The 4 week average of new claims increased 6,250 to 210,750:


Continuing Unemployment Claims Make New 45+ Year Low

The big increase is likely affected by seasonality. It’ll be another week or two before we can tell if there is any real change in trend. If there is, it is likely to be a flattening in new claims rather than any significant increase. 


Continuing claims for jobless benefits, meanwhile, declined by 194,000, to 1,559,000:


Continuing Unemployment Claims Make New 45+ Year Low

This is a new 45+ year record low. There haven’t been continuing claims this low since 1974, when the US population was half of what it is now, as shown in the graph below that subtracts 1,559,000 from the actual number:


Continuing Unemployment Claims Make New 45+ Year Low

Last week I wrote: “I don’t know if initial claims will go any lower, but I suspect continuing claims will continue to decline to or even below their 2018-19 levels.”

Wow! Only one week later and the forecast is already correct. I expect even further declines in continuing claims, until the extreme tightness in the labor market brought about by the pandemic starts to loosen its hold.

Leave a Reply

Your email address will not be published. Required fields are marked *