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Jobless Claims Set to Keep Easing as U.S. Economy Picks Up
[WSJ] Worker applications for unemployment benefits are expected to have eased again last week, potentially adding to signs that layoffs are declining as the economic recovery picks up.Economists surveyed by The Wall Street Journal forecast that the number of workers applying for unemployment benefits fell to a seasonally adjusted 773,000 last week, down slightly from 793,000 the prior week. Jobless claims—a proxy for layoffs—remain above the pre-coronavirus pandemic peak of 695,000, but have fallen from 926,000 in early January. "We’re heading in the right direction," said Marianne Wanamaker, a labor economist at the University of Tennessee, Knoxville, and former adviser to the Trump White House. "I just don’t think we’re going to get there very quickly." While the initial reopening of the economy last summer from pandemic-related closures led to quick labor market gains, Ms. Wanamaker said she expects job growth over the next few months to be more gradual. Posted by: Besoeker 2021-02-18 |
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