Why are jobless claims rising at the busiest commercial time of the year?
(posted from a tablet)
Isn't it generally after Christmas and the end of all the Christmas shopping when the jobless claims rise because all the retailers are laying off the extra workers they temporarily hired for the Christmas season?
NEW YORK (TheStreet) -- Recent jobs data has demonstrated the labor market's resilient return to strength, but the latest initial jobless claims numbers released Thursday paint a different story.
Seasonally adjusted initial jobless claims increased 68,000 to 368,000 for the week ended Dec. 7, 22% higher than a revised figure released a week earlier. The four-week moving average jumped 6,000 to 328,750.
The increase in new claims for government unemployment benefits has negated recent declines and is higher than expected. According to analysts surveyed by Thomson Reuters, new claims were forecast to rise a modest 20,000 to 320,000 over the week.
Initial Jobless Claims Rise, Bucking Latest Trends - TheStreet
(posted from a tablet)
Isn't it generally after Christmas and the end of all the Christmas shopping when the jobless claims rise because all the retailers are laying off the extra workers they temporarily hired for the Christmas season?
NEW YORK (TheStreet) -- Recent jobs data has demonstrated the labor market's resilient return to strength, but the latest initial jobless claims numbers released Thursday paint a different story.
Seasonally adjusted initial jobless claims increased 68,000 to 368,000 for the week ended Dec. 7, 22% higher than a revised figure released a week earlier. The four-week moving average jumped 6,000 to 328,750.
The increase in new claims for government unemployment benefits has negated recent declines and is higher than expected. According to analysts surveyed by Thomson Reuters, new claims were forecast to rise a modest 20,000 to 320,000 over the week.
Initial Jobless Claims Rise, Bucking Latest Trends - TheStreet