{"id":515223,"date":"2022-11-23T19:37:18","date_gmt":"2022-11-23T16:37:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/weekly-jobless-claims-hit-3-month-high\/"},"modified":"2022-11-23T19:37:18","modified_gmt":"2022-11-23T16:37:18","slug":"weekly-jobless-claims-hit-3-month-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/weekly-jobless-claims-hit-3-month-high\/","title":{"rendered":"#Weekly jobless claims hit 3-month high"},"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-6a2da9c65d146\" 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-6a2da9c65d146\" 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\/weekly-jobless-claims-hit-3-month-high\/#%E2%80%9CWeekly_jobless_claims_hit_3-month_high%E2%80%9D\" >&#8220;Weekly jobless claims hit 3-month high&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWeekly_jobless_claims_hit_3-month_high%E2%80%9D\"><\/span>&#8220;Weekly jobless claims hit 3-month high&#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 increased to a three-month high last week amid rising layoffs in the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> sector, but that likely does not suggest a material shift in labor market conditions, which remain tight.<\/p>\n<p>Weekly\u00a0jobless\u00a0claims\u00a0data tend to be volatile around the start of the holiday season. Despite the increase in filing reported by the Labor Department on Wednesday,\u00a0claims\u00a0remained well below the threshold that economists said would raise red flags about the labor market. The jobs market has remained resilient in the face of the Federal Reserve\u2019s most aggressive interest rate-hiking cycle since the 1980s aimed at curbing high inflation by dampening demand in the economy.<\/p>\n<p>\u201cLayoff announcements have picked up although there is no sign yet of broad-based redundancies,\u201d said Rubeela Farooqi, chief US economist at High Frequency Economics in White Plains, NY.<\/p>\n<p>Initial\u00a0claims\u00a0for state unemployment benefits rose 17,000 to a seasonally adjusted 240,000 for the week ended Nov. 19. Data for the prior week was revised to show 1,000 more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications filed than previously reported. Economists say\u00a0claims\u00a0would need to break above 270,000 to raise concerns about the labor market.<\/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\/weekly-jobless-claims.jpg?w=1024\" alt=\"Empty office\" class=\"wp-image-24762746\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/weekly-jobless-claims.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/weekly-jobless-claims.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/weekly-jobless-claims.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>There has been an increase in layoffs in the technology sector, with Twitter, Amazon and 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.<br \/>\n<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cAny sign of a sustained increase in\u00a0claims\u00a0that approaches the break-even level, or that consistent with no monthly job growth, would be cause for concern,\u201d said Dante DeAntonio, an economist at Moody\u2019s Analytics in West Chester, Pennsylvania. \u201cThere is still some room for the labor market to soften without raising a red flag.\u201d<\/p>\n<p>Economists polled by Reuters had forecast 225,000\u00a0claims\u00a0for the latest week. The\u00a0claims\u00a0data was released a day early because of the Thanksgiving Day holiday on Thursday.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>There has been an increase in layoffs in the technology sector, with Twitter, Amazon\u00a0and Meta, the parent of Facebook, announcing thousands of job cuts this month.<\/p>\n<p>Unadjusted\u00a0claims\u00a0shot up 47,909 to 248,185 last week. They were boosted by a 5,024 jump in California, likely reflecting the tech sector job cuts. There were also big increases in filings in Georgia, Illinois, Minnesota, Iowa, New York, Ohio and Michigan.<\/p>\n<p>Economists, however, did not expect the technology sector layoffs would be a major drag on the labor market and the overall economy, noting that businesses outside the technology and housing sectors were hoarding workers after difficulties finding labor in the aftermath of the COVID-19 pandemic.<\/p>\n<p>\u201cLayoff announcements need to be taken with a grain of salt as they\u2019re not set in stone and businesses can adjust them,\u201d said Ryan Sweet, chief US economist at Oxford Economics in West Chester, Pa.<\/p>\n<p>\u201cStill, if the largest layoffs announced so far in November were to occur this month, it would raise the unrounded unemployment rate from 3.69% to 3.80%, all else being equal.\u201d<\/p>\n<p>With 1.9 job openings for every unemployed person in September, some of the workers being laid off could find new employment quickly.\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\/23\/weekly-jobless-claims-hit-3-month-high\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Weekly jobless claims hit 3-month high&#8221; The number of Americans filing new\u00a0claims\u00a0for unemployment benefits increased to a three-month high last week amid rising layoffs in the technology sector, but that likely does not suggest a material shift in labor market conditions, which remain tight. Weekly\u00a0jobless\u00a0claims\u00a0data tend to be volatile around the start of the holiday&#8230;<\/p>\n","protected":false},"author":1,"featured_media":515224,"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\/weekly-jobless-claims.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136078,5069,75466,70550,70840],"class_list":["post-515223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-23-22","tag-economy","tag-employment","tag-federal-reserve","tag-unemployment-benefits"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515223","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=515223"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/515224"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=515223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=515223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=515223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}