Home » Economy » Jobless claims climb to 220,000 from half-century low
Jobless claims climb to 220,000 from half-century low
US economy could experience inflation until 2023: Expert
Main Street Asset Management CIO Erin Gibbs and Moody’s Chief Economist John Lonski on how inflation is impacting the U.S. economy.
The number of Americans filing for unemployment benefits last week rose off the lowest levels since the outbreak of the COVID-19 pandemic.
Figures released Thursday by the Labor Department show that applications for the week ended Nov. 27 climbed to 222,000 from a revised 194,000 a week earlier, easily topping the 240,000 forecast by Refinitiv analysts.
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"While the backdrop of uncertainty regarding omicron definitely isn’t helping the market, we’re getting some relatively positive news on the labor market front," said Mike Loewengart, managing director at E*Trade Financial.
"That said, these numbers are backward-looking, so with the new variant coming to light only in the past week, it remains to be seen how it could play a role in effecting the workforce and our economic recovery at large."