This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Jobless Claims Expected to Drop for First Time in Four Weeks
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Business > Jobless Claims Expected to Drop for First Time in Four Weeks
Business

Jobless Claims Expected to Drop for First Time in Four Weeks

Editorial Board Published October 7, 2021
Share
Jobless Claims Expected to Drop for First Time in Four Weeks
SHARE

Filings for jobless benefits last week are estimated to have fallen for the first time in four weeks, as employers continue to eschew layoffs amid a tight labor market.

Economists expect the Labor Department will report Thursday that initial unemployment claims, a proxy for layoffs, moved lower in the week ended Oct. 2 to a seasonally adjusted 345,000 from 362,000 the prior week, when claims rose by 11,000.

Claims ticked up during September, in part because of accounting issues in California and supply shortages in Michigan that led to short-term layoffs in the auto industry. Still, claims remain near their lowest levels since the coronavirus pandemic’s onset, as the number of job openings in the U.S. has continued to outpace the number of unemployed workers. Many employers have reported strong demand for workers, but difficulties filling open positions.

“When you filter out the noise and temporary factors, employers are still holding on to the workers they have, knowing that if they let them go, they are going to be very hard to replace,” said Robert Frick, corporate economist at the Navy Federal Credit Union, of the recent trend in jobless claims.

Claims have remained low relative to earlier in the pandemic despite a late-summer surge in coronavirus cases that caused new uncertainties for employers, particularly those that offer in-person services. Hiring in the leisure and hospitality industry was flat during August, and employment gains overall slowed compared with earlier in the summer.

Economists expect Labor Department data to be released Friday will show U.S. employers added 500,000 jobs in September, which would be a pickup from the previous month, when the economy added 235,000 jobs. The unemployment rate is also expected to have fallen to 5.1% last month from 5.2% in August.

Meanwhile, the number of Americans receiving unemployment benefits overall is shrinking after programs created to respond to the pandemic’s effect on the labor market ended in all states last month. One of those programs provided payments to gig workers and others typically not eligible to tap unemployment insurance. Another extended payments to individuals who had exhausted state benefits. In addition, the federal government funded a $300 a week enhancement for all unemployment programs.

Continuing claims, a proxy for those receiving payments, made to all unemployment programs fell to about 5 million in mid-September from about 12 million in late August, before the pandemic aid expired. The data accounting for all programs isn’t seasonally adjusted, and is reported on a several-week delay. Some states are still paying pandemic benefits as they work through backlogs.

The end of enhanced and extended benefits reduced federal spending on such programs. Weekly Labor Department disbursements to states for unemployment programs have fallen sharply since the end of pandemic assistance in early September, to $1.65 billion for the week ending Oct. 1. That is down from $6.2 billion for the week ending Sept. 3 and the lowest weekly amount since the start of the pandemic.

—Anthony DeBarros contributed to this article.

Low-wage work is in high demand, and employers are now competing for applicants, offering incentives ranging from sign-on bonuses to free food. But with many still unemployed, are these offers working? Photo: Bloomberg

Write to Amara Omeokwe at [email protected]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:Business NewsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Dolly Parton, businesses raise 0K for flood victims Dolly Parton, businesses raise $700K for flood victims
Next Article Inflation Worries Hit U.K. Markets as Energy Prices Soar Inflation Worries Hit U.K. Markets as Energy Prices Soar

Editor's Pick

New Council of Financial Advisors report finds tariffs not inflicting inflation

New Council of Financial Advisors report finds tariffs not inflicting inflation

Former Trump administration head of financial coverage Tomas Philipson discusses President Trump’s commerce talks with South Korea and Japan, present…

By Editorial Board 4 Min Read
NBA Summer time League takeaways: Warriors rookie Will Richard makes debut vs. Spurs
NBA Summer time League takeaways: Warriors rookie Will Richard makes debut vs. Spurs

Richard makes debut SAN FRANCISCO – The Warriors‘ acquisition of their three…

5 Min Read
Moriah Plath Reveals Complete Hair Loss Attributable to Alopecia
Moriah Plath Reveals Complete Hair Loss Attributable to Alopecia

Studying Time: 3 minutes Moriah Plath is clearing the air, as a…

5 Min Read

Oponion

Cloud of Goods Empowers Equipment Rentals Across Major U.S. Markets

Cloud of Goods Empowers Equipment Rentals Across Major U.S. Markets

San Francisco (January 17, 2024): Cloud of Goods (cloudofgoods.com), a…

January 18, 2024

Amanda Bynes: I am Becoming a member of OnlyFans!

Studying Time: 3 minutes Amanda Bynes…

April 16, 2025

Intelsat, Cubic³ Full Car Satellite tv for pc Connectivity Take a look at, Advancing Ubiquitous Connectivity Imaginative and prescient

Groundbreaking Memorandum of Understanding brings seamless,…

May 15, 2025

Stanford rally comes up brief towards No. 15 UNC at Maples

STANFORD, Calif. (AP) — A livid…

February 2, 2025

Did the Waukesha killings even happen?

OPINION: Last Tuesday, Erick Tiegs, 16,…

December 7, 2021

You Might Also Like

Thales Reinforces its Management in eSIM and IoT Connectivity with a ‘Ready to Use’ Licensed Resolution
Business

Thales Reinforces its Management in eSIM and IoT Connectivity with a ‘Ready to Use’ Licensed Resolution

At a time when billions of linked objects are reshaping industries, Thales has achieved a vital safety certification for its…

4 Min Read
Soracom IoT Platform Achieves SOC 2 Kind 2 Compliance for Safety, Availability, and Confidentiality
Business

Soracom IoT Platform Achieves SOC 2 Kind 2 Compliance for Safety, Availability, and Confidentiality

Soracom, Inc., right now introduced that it has efficiently achieved System and Group Controls (SOC) 2 Kind 2 compliance, reinforcing…

2 Min Read
Mobile IoT Module Shipments Grew 23% in Q1 2025 as US–China tensions affect vendor panorama
Business

Mobile IoT Module Shipments Grew 23% in Q1 2025 as US–China tensions affect vendor panorama

In brief Shipments of mobile IoT modules and chipsets grew 23% year-over-year in Q1 2025, based on IoT Analytics’ International…

20 Min Read
Prime 7 Visitor Posting Marketplaces to Purchase Visitor Posts That Drive Search engine optimization Outcomes
Business

Prime 7 Visitor Posting Marketplaces to Purchase Visitor Posts That Drive Search engine optimization Outcomes

Utilizing a visitor posting market helps you overlook all that like a nasty nightmare. However how do you discover probably…

14 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?