Jobless Claims Rise , as Omicron Spreads in
the United States.
CNBC reports that as the highly-infectious Omicron variant sweeps the nation, jobless claims rose higher than many had expected.
CNBC reports that as the highly-infectious Omicron variant sweeps the nation, jobless claims rose higher than many had expected.
According to the U.S. Labor Department, jobless claims reached 207,000
for the week ending January 1.
Conservative economic estimates for
jobless claims were around
195,000 for the month.
Still, experts say jobless claims have
hovered below pre-pandemic levels
in the last four weeks.
Still, experts say jobless claims have
hovered below pre-pandemic levels
in the last four weeks.
Weekly unemployment claims only ticked up for the latest week, showing the surge in Omicron cases hasn’t increased layoffs. , Robert Frick, corporate economist at Navy Federal Credit Union, via CNBC.
Continuing claims also increased by 36,000 for the period, totaling 1.75 million.
Though the COVID-19 pandemic
rages on, officials say the jobs
market could be picking up steam.
As the unemployment rate sits at 4.2%, economists predict nearly 422,000 jobs were filled last month.
As the unemployment rate sits at 4.2%, economists predict nearly 422,000 jobs were filled last month.
According to CNBC, officials were
disappointed in October and
November jobs reports.
The outlook moving forward
is one of cautious optimism.
The underlying trend in claims
is downward but the speed
of the drop in October
and early November
could not be sustained. , Ian Shepherdson, chief economist at Pantheon Macroeconomics, via CNBC