News That Matters

Tag: Unemployment

Jobless claims at 8-month high as layoffs edge higher
Business

Jobless claims at 8-month high as layoffs edge higher

The number of Americans collecting jobless benefits last week is at its highest level since November, a sign the labor market is cooling as the Federal Reserve tries to lower inflation by slowing economic growth.Applications for jobless aid for the week ending July 30 rose by 6,000 to 260,000, matching an eight-month high set two weeks ago, the Labor Department reported Thursday. First-time applications generally reflect layoffs. The four-week average for claims, which evens out the weekly ups and downs, also rose from the previous week, to nearly 255,000. Jobless claims have been steadily rising since hitting a 50-year low in early April."The direction of filings has changed. from sustained declines to an uptrend, signaling a shift in the labor market. Overall, further interes...
Sick days and vacations hit businesses this summer
Business

Sick days and vacations hit businesses this summer

Note: Surveys of Americans who say they are not working because they have or are caring for someone with COVID-19 were conducted weekly through July 21, 2020 and biweekly thereafter. Surveys of Americans who are taking vacations from work are conducted monthly. Data: U.S. Census, Bureau of Labor Statistics; Chart: Erin Davis/Axios VisualsCOVID-19 cases are on the rise with extremely transmissible Omicron BA.5 variant, and businesses — already struggling with labor shortages — are dealing with an influx of workers calling out sick. By the numbers: Between June 29 and July 11, nearly 3.9 million people said they did not work because they were either sick with coronavirus symptoms or were caring for a sick loved one, according to recent Census Bureau data.The big picture: The BA.5 variant ...