Applications for unemployment aid for the week ending Dec. 31 fell by 19,000 to 204,000, the Labor Department reported.
FILE - A hiring sign is displayed at a grocery store in Arlington Heights, Ill., Tuesday, Dec. 27, 2022. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week. – The number of Americans applying for jobless benefits fell to the lowest level in more than three months last week, reflecting a still-robust job market despite the Federal Reserve's efforts to cool the economy and bring down decades-high inflation.
Also Thursday morning, the payroll processing firm ADP reported that the U.S. economy gained 235,000 jobs, well above expectations. Jobless claims are generally viewed as a proxy for layoffs, which have been relatively low since the pandemic wiped out roughly 20 million jobs in the spring of 2020. The government issues its December jobs report on Friday, with economists surveyed by data firm FactSet expecting the U.S. economy to have gained another 200,000 jobs, a healthy number. Employers added 263,000 jobs in November and the unemployment rate stayed at a low 3.7%.
Mortgage rates are above 6%, essentially double what they were before the Fed began tightening credit. Higher mortgage rates have hammered the housing market, with sales of existing homes falling for 10 straight months.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: 750,000 Americans Die Each Year During First Attempt To Get Back In ShapeWASHINGTON—According to an alarming report published Monday in the Journal Of Applied Physiology, three quarters of a million Americans die annually during their first attempt to get back in shape. “We found that, each year, about 225,000 out-of-shape Americans collapse and perish within the first three minutes of…
Read more »
Surprise (not), most Americans in survey think EVs are way too expensive - AutoblogDeloitte surveyed thousands of prospective car buyers around the world, and found that expectations are way different than reality when it comes to EV costs.
Read more »
Most Americans feeling economic anxiety, but there are ways to decrease worryA new Gallup poll shows that nearly 8 out of 10 Americans believe 2023 will be an economically difficult year. But there are ways to overcome anxiety related to economic fear. abc15
Read more »
Opinion: Americans are taking more control over their work lives – because they have toControl is a basic psychological need that helps people feel like they have agency, from...
Read more »
Op-Ed: Is there something about Americans that makes us football addicts?Ours is a violent society attracted to the combat that plays out in the 'war game' of football, America's favorite sport, writes Randall Balmer. (via latimesopinion)
Read more »
Why Americans aren't taking full advantage of health savings accountsFirst introduced in 2003, HSAs were originally created to incentivize saving for medical expenses. They're now being used for retirement savings.
Read more »