Jobs Archives - Pensito

U.S. Economy Added 311,000 Jobs in February

March 10, 2023 Buck Banks

311,000

“U.S. hiring grew solidly but cooled some in February as employers added 311,000 jobs, while unemployment rose to 3.6%,” the Wall Street Journal reports.

It’s the Economy’s Great, Stupid!

April 8, 2022 Buck Banks

An estimated 166,000 Americans filed initial unemployment claims last week, down nearly 5,000 claims from the previous week and better than analyst projections of 200,000. It is the lowest figure since November 1968 (and the second-lowest since weekly reporting began in January 1967). Continuing claims rose slightly by 17,000 to 1.52 million, coming two years after the number of claims reached an all-time high of 6.1 million in April 2020.

The decline shows employers are limiting layoffs in a tight labor market. Roughly 1.8 job openings are available for every unemployed worker; the unemployment rate stood at 3.6% in March, just above the prepandemic level of 3.5%. Nearly 4.4 million workers left their jobs in February, a number that has held steady as employers try to fill job openings.

The figure represents the third consecutive week that new claims fell below 200,000.

Jobless Claims at Lowest Since 1968

April 7, 2022 Buck Banks

166,000

The labor market tightened further last week, with initial jobless claims calling to 166,000 — their lowest level in more than 53 years, CNBC reports.

Private-Sector Employment Surged in February

March 2, 2022 Buck Banks

475,000

“U.S. private employers hired more workers than expected in February and data for the prior month was revised sharply higher to show strong job gains instead of losses, aligning with other reports that have painted an upbeat picture of the labor market,” Reuters reports.

4.3 Million Quit or Changed Jobs in December

February 1, 2022 Buck Banks

4.3 million

“Some 4.3 million people quit or changed jobs in December — down from last month’s all-time high but still near record levels, as the labor market remained unsettled and the omicron variant swept through the United States,” the Washington Post reports.

U.S. Jobless Claims Hit New Low

August 13, 2021 Buck Banks

375,000

Associated Press: “The number of Americans seeking unemployment benefits fell for a third straight time last week, the latest sign that employers are laying off fewer people as they struggle to fill a record number of open jobs and meet a surge in consumer demand. Thursday’s report from the Labor Department showed that jobless claims fell to 375,000 from 387,000 the previous week. … A total of about 12 million people are receiving unemployment benefits, down sharply from the previous week’s figure of nearly 13 million… So far at least, there has been little sign that the delta variant has depressed hiring or prompted layoffs.”

Biden Burdened by Worst Job Market Faced by Any Modern Pressident

January 22, 2021 Buck Banks

16 million

“Another 900,000 people filed new unemployment claims last week, President Donald Trump’s last in office, a snapshot of the significant labor market challenges facing President Biden,” the Washington Post reports. “An additional 423,000 people in 47 states filed new claims for Pandemic Unemployment Assistance, the program created to help gig and self-employed workers. … Altogether, nearly 16 million people were claiming benefits as of Jan. 2, the last week available for that measurement.”

Unemployment Could Top 30%

March 30, 2020 Buck Banks

32%

Economists at the Federal Reserve Bank of St. Louis project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, CNBC reports.

Jobless Being Undercounted

March 27, 2020 Buck Banks

3.3 million

“The 3.3 million new unemployment insurance claims that the Labor Department reported Thursday is likely a significant undercount, experts say, because laid-off workers have been calling into state unemployment agencies much faster than the agencies can process their requests,” Politico reports.

Mnuchin: Jobless Numbers ‘Not Relevant’

March 27, 2020 Buck Banks

“I just think these numbers right now are not relevant. Whether they’re bigger or smaller in the short term… the good thing about this bill is, the president is protecting these people.”

311,000

“U.S. hiring grew solidly but cooled some in February as employers added 311,000 jobs, while unemployment rose to 3.6%,” the Wall Street Journal reports.

166,000

The labor market tightened further last week, with initial jobless claims calling to 166,000 — their lowest level in more than 53 years, CNBC reports.

475,000

“U.S. private employers hired more workers than expected in February and data for the prior month was revised sharply higher to show strong job gains instead of losses, aligning with other reports that have painted an upbeat picture of the labor market,” Reuters reports.

4.3 million

“Some 4.3 million people quit or changed jobs in December — down from last month’s all-time high but still near record levels, as the labor market remained unsettled and the omicron variant swept through the United States,” the Washington Post reports.

375,000

16 million

32%

Economists at the Federal Reserve Bank of St. Louis project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, CNBC reports.

3.3 million

“I just think these numbers right now are not relevant. Whether they’re bigger or smaller in the short term… the good thing about this bill is, the president is protecting these people.”

— Asked on CNBC about the record joblessness report, which totaled nearly 3.3 million people, Treasury Secretary Steve Mnuchin downplayed the report.

Poetic Justice

Verbatim

“It does make the conversation of the primary all about Trump, which is a good dynamic he had going for him in 2016, everyone being asked to react to Trump. We’re right now fighting a primary so all that matters is the party, and we can deal with the general after….”

— A GOP operative, quoted by the Washington Post, on the impact of Donald Trump being indicted.

— Gov. Ron DeSantis, when asked about Donald Trump’s “Ron DeSantimonius” nickname for him.

“I’m emancipated now.” — Rep. Nancy Pelosi (D-CA), quoted by the Los Angeles Times, on her life as a backbencher.

— Alexander Burns

— Florida Sen. Marco Rubio, distancing himself from Florida Gov. Ron DeSantis’ apparent flip-flop on the war in Ukraine, on the Hugh Hewitt radio show.

Numerati

$20

Politico: “After inflation rocketed upward last year, those pushing for higher minimum wages see a new opening to gain ground on raising worker pay.”

3,500

$3,300

“Donald Trump asked his followers to sign a petition denouncing his potential arrest in New York,” Insider reports. “But signing this petition leads people straight to a page where they’re asked to give $3,300 or other suggested amounts of cash to his 2024 campaign.”

1.5

21

Twenty-one members of the South Carolina State House are considering a bill that would make a woman who has an abortion in the state eligible for the death penalty, Rolling Stone reports.