• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Average Weekly Initial Claims Hits the Highest Level Since September
Economy

Average Weekly Initial Claims Hits the Highest Level Since September

by December 8, 2022
by December 8, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Initial claims for regular state unemployment insurance rose by 4,000 for the week ending December 3rd, coming in at 230,000. The previous week’s 226,000 was revised up from the initial estimate of 225,000 (see first chart). Weekly initial claims have risen in seven of the last twelve weeks.

The four-week average of weekly initial claims rose to 230,000, up 1,000 for the week. That was the eighth increase in the last ten weeks and the highest level since September 3rd (see first chart).

When measured as a percentage of nonfarm payrolls, claims came in at 0.145 percent for November, up from 0.140 in October and above the record low of 0.117 in March (see second chart). While the level of weekly initial claims for unemployment insurance remains very low by historical comparison, the rising trend is a concern.

Job-cut announcements have increased recently adding to the concern over the rising trend in initial claims. Job cut announcements jumped to 76,835 in November versus 33,843 in October, the highest level since January (see third chart). While the data continue to imply a tight labor market, continued elevated rates of price increases, an aggressive Fed tightening cycle, and fallout from the Russian invasion of Ukraine remain risks to the economic outlook.

The number of ongoing claims for state unemployment programs totaled 1.258 million for the week ending November 19th, a decrease of 79,919 from the prior week (see fourth chart). State continuing claims remain within the 1.2 million and 1.5 million range (see fourth chart).

The latest results for the combined Federal and state programs put the total number of people claiming benefits in all unemployment programs at 1.284 million for the week ended November 19th, a decrease of 83,896 from the prior week.

While the overall low level of initial claims suggests the labor market remains tight, the upward trend in claims and rising job-cut announcements are concerns. The tight labor market is a crucial component of the economy, providing support for consumer spending. However, persistently elevated rates of price increases already weigh on consumer expectations for the future, and if consumers lose confidence in the labor market, they may significantly reduce spending. The outlook remains highly uncertain.

You Might Also Like
  • Border Patrol agents stop 4 illegal immigrant sex offenders coming into US in 1 day
  • Trump draws massive crowd of at least 50K in small South Carolina town of 3,400: police
  • Texas sends migrants to Naval Observatory near VP Harris’ home, once again
  • Fetterman says US should ‘take back’ Chinese-owned farmland: ‘They’re taking back our pandas’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The Libido for the Superficial
next post
How Our Higher Education System Could Put Students First

You may also like

Fetterman scolds Dem colleagues for failing to condemn Iran’s attack...

April 19, 2024

President Biden: ‘More than half the women in my administration...

February 3, 2023

Obama increasingly worried about Trump beating Biden, report says: ‘Incalculable...

January 11, 2024

The issue that could cost Trump the 2024 campaign

March 13, 2024

Pennsylvania Democrats’ fragile House majority at stake in special elections

May 17, 2023

Israel puts $400K bounty on Hamas leader’s head, drops leaflets...

December 15, 2023

House Republicans roll out ‘one-stop shop’ Biden impeachment inquiry website

November 30, 2023

Republicans send letter to Jake Sullivan demanding ‘total figures’ for...

September 26, 2023

Trump leads Biden among Hispanics, registered voters overall: poll

March 3, 2024

McCarthy rips CNN for hiring James Clapper, Andrew McCabe: ‘Are...

June 13, 2023

Fetterman scolds Dem colleagues for failing to condemn Iran’s attack...

April 19, 2024

President Biden: ‘More than half the women in my administration...

February 3, 2023

Obama increasingly worried about Trump beating Biden, report says: ‘Incalculable...

January 11, 2024

The issue that could cost Trump the 2024 campaign

March 13, 2024

Pennsylvania Democrats’ fragile House majority at stake in special elections

May 17, 2023

Israel puts $400K bounty on Hamas leader’s head, drops leaflets...

December 15, 2023

House Republicans roll out ‘one-stop shop’ Biden impeachment inquiry website

November 30, 2023

Republicans send letter to Jake Sullivan demanding ‘total figures’ for...

September 26, 2023

Trump leads Biden among Hispanics, registered voters overall: poll

March 3, 2024

McCarthy rips CNN for hiring James Clapper, Andrew McCabe: ‘Are...

June 13, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Is a Bold Rotation Brewing in Healthcare and Biotech? Here’s What to Watch Now

      June 13, 2025
    • Three Sectors Stand Out and One Sports a Bullish Breakout

      June 13, 2025
    • RRG Update: Is Tech Ready to Break Out?

      June 13, 2025
    • What the S&P 500, VIX, and ARKK are Telling Us Now

      June 12, 2025
    • Howard Schultz says he ‘did a cartwheel’ when Starbucks CEO Niccol coined ‘back to Starbucks’ strategy

      June 12, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,851 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,553 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,537 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,518 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,394 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,129)
    • Investing (538)
    • Stock (2,609)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Is a Bold Rotation Brewing in Healthcare and Biotech? Here’s...

      June 13, 2025
    • Three Sectors Stand Out and One Sports a Bullish Breakout

      June 13, 2025
    • RRG Update: Is Tech Ready to Break Out?

      June 13, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,129)
    • Investing (538)
    • Stock (2,609)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Who is JD Vance’s wife, Usha...

    July 16, 2024

    Trump blasts Kerry’s climate activism for...

    December 6, 2023

    2024 GOP hopeful goes after Trump,...

    April 24, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here