{"id":511494,"date":"2022-11-17T19:30:50","date_gmt":"2022-11-17T16:30:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jobless-claims-drop-as-widespread-layoffs-remain-low\/"},"modified":"2022-11-17T19:30:50","modified_gmt":"2022-11-17T16:30:50","slug":"jobless-claims-drop-as-widespread-layoffs-remain-low","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jobless-claims-drop-as-widespread-layoffs-remain-low\/","title":{"rendered":"#Jobless claims drop as widespread layoffs remain low"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a288a9caca06\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a288a9caca06\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jobless-claims-drop-as-widespread-layoffs-remain-low\/#%E2%80%9CJobless_claims_drop_as_widespread_layoffs_remain_low%E2%80%9D\" >&#8220;Jobless claims drop as widespread layoffs remain low&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJobless_claims_drop_as_widespread_layoffs_remain_low%E2%80%9D\"><\/span>&#8220;Jobless claims drop as widespread layoffs remain low&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The number of Americans filing new\u00a0claims\u00a0for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>-sector job cuts that has raised fears of an imminent recession.<\/p>\n<p>The weekly unemployment\u00a0claims\u00a0report from the Labor Department on Thursday, the most timely data on the economy\u2019s health, suggested the labor market remained tight. That, together with strong retail sales growth in October, will keep the Federal Reserve on track to continue raising interest rates, though at a slower pace amid signs inflation is starting to subside.<\/p>\n<p>\u201cThis is a testimony to how tight the labor market remains,\u201d said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Va.<\/p>\n<p>Initial\u00a0claims\u00a0for state unemployment benefits dropped 4,000 to a seasonally adjusted 222,000 for the week ended Nov. 12, the Labor Department said on Thursday. Economists polled by Reuters had forecast 225,000\u00a0claims\u00a0for the latest week.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/jobless-claims-economy.jpg?w=1024\" alt=\"&quot;We Are Hiring&quot; sign\" class=\"wp-image-24688669\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/jobless-claims-economy.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/jobless-claims-economy.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/jobless-claims-economy.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Economists say businesses outside the technology and housing sectors are hoarding workers.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>There has been an increase in layoffs in the technology sector, with Twitter, Amazon\u00a0and Meta, the parent of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>, announcing thousands of job cuts this month. Companies in interest-rate sensitive sectors like housing and finance are also letting workers go.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The layoffs have so far not been evident in official data. Unadjusted\u00a0claims\u00a0dropped 6,101 to 199,603 last week.\u00a0Claims\u00a0in California, the epicenter of the technology job cuts, rose by only 302 last week. Big decreases in\u00a0claims\u00a0were reported in Florida, Georgia, Kentucky, Indiana and Texas, offsetting notable increases in Minnesota and North Carolina.<\/p>\n<p>Economists say businesses outside the technology and housing sectors are hoarding workers after difficulties finding labor in the aftermath of the COVID-19 pandemic. With 1.9 job openings for every unemployed person in September, some of the workers being laid off are probably finding new employment quickly.<\/p>\n<p>Economists at Goldman Sachs dismissed worries that the technology layoffs were flagging an imminent recession in a note this week. They argued that technology job openings remained well above their pre-pandemic level. They also noted technology-sector layoffs have not historically been a leading indicator for deterioration in the overall labor market.<\/p>\n<p>\u201cAnnounced tech job cuts have frequently spiked without a corresponding increase in cuts in other sectors and have otherwise been a coincidental indicator,\u201d they wrote.<\/p>\n<p>The Fed has raised its policy rate by 375 basis points this year from near zero to a 3.75%-4% range as it battles high inflation in what has become the fastest rate-hiking cycle since the 1980s. So far, the economy is weathering the tighter monetary policy storm, with data on Wednesday showing strong retail sales growth in October.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/17\/jobless-claims-drop-as-widespread-layoffs-remain-low\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Jobless claims drop as widespread layoffs remain low&#8221; The number of Americans filing new\u00a0claims\u00a0for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in technology-sector job cuts that has raised fears of an imminent recession. The weekly unemployment\u00a0claims\u00a0report from the Labor Department on Thursday, the most timely data on the economy\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/jobless-claims-economy.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135705,5069,75466,70550,5071,70840],"class_list":["post-511494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-17-22","tag-economy","tag-employment","tag-federal-reserve","tag-unemployment","tag-unemployment-benefits"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=511494"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511495"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}