The Democrats locked down the country. They continue to pay people not to work.
The economy should be exploding but weekly jobless claims “unexpected” moved higher last week despite hopes that the U.S. labor market is poised for a strong recovery heading into the fall. Anyone who was surprised by this hasn’t been paying attention to the illegitimate administrations catastrophic economic policies and welfare “infrastructure” bills. Weekly jobless claims “unexpected” moved higher last week despite hopes that the U.S. labor market is poised for a strong recovery heading into the fall. Anyone who was surprised by this hasn’t been paying attention to the illegitimate administrations catastrophic economic policies and welfare “infrastructure” bills.
Quick note: Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here. We will not waver. We will not tire. We will not falter, and we will not fail. Freedom will prevail.
Subscribe to Geller Report newsletter here — it’s free and it’s critical NOW when informed decision making and opinion is essential to America’s survival. Share our posts on your social channels and with your email contacts. Fight the great fight.
Remember, YOU make the work possible. If you can, please contribute to Geller Report.
U.S. jobless claims show surprise gain, well above expectations
By: Jeff Cox, CNBC, July 22, 2021:
Weekly jobless claims totaled 419,000 for the week ended July 17, above the 350,000 estimate.
The total represented a gain from the previous week’s 368,000.
Continuing claims declined by 29,000 to 3.24 million for another pandemic-era low.
U.S. weekly jobless claims total 419,000 vs. 350,000 estimate
Weekly jobless claims unexpected moved higher last week despite hopes that the U.S. labor market is poised for a strong recovery heading into the fall.
Initial filings for unemployment insurance totaled 419,000 for the week ended July 17, well above the 350,000 Dow Jones estimate and more than the upwardly revised 368,000 from the previous period, the Labor Department reported Thursday.
The news sent stock market futures off their highs for the morning, with Wall Street pointing to a slightly negative open. Government bond yields also edged lower.
The jobless total was the highest weekly count since May 15 and came amid expectations that the jobs picture will improve markedly as enhanced unemployment benefits end and companies get more aggressive about filling vacant positions.
On the positive side, continuing claims, which run a week behind the headline number, declined by 29,000 to 3.24 million, a fresh pandemic low. The total was last lower on March 14, 2020, just after the Covid-19 pandemic declaration and as governments across the U.S. ordered businesses to close, sending more than 22 million to the unemployment line.
The total of those receiving benefits under all government programs also declined, falling by more than 1.2 million to 12.57 million. A year ago, nearly 33 million people were collecting benefits.
Among states, Michigan saw the biggest gain, adding more than 13,000 at a time when auto production has been derailed due to a semiconductor shortage. Texas saw an increase of nearly 10,000, according to unadjusted data.
Last week’s surprise increase in claims comes as fears grow over the relatively new delta variant of the coronavirus. Case counts and hospitalizations are rising, primarily among unvaccinated parts of the population, raising the specter that another wave of the disease is hitting the U.S. and the world.
New cases and hospitalizations are around the levels they were in mid-May though they remain a fraction of where they were during the winter outbreak.
Despite the surprise jump in claims last week, multiple factors point to strong potential for labor gains ahead.
Job placement site Indeed estimates that there were about 9.8 million job openings as of July 16. That compares with the 9.48 million workers that the Labor Department counted as unemployed through June, indicating plenty of opportunity for aggressive hiring ahead.
Businesses shuttered during the pandemic also are coming back at a brisk pace.
In the April-to-June period, 60,502 businesses reopened, the highest volume of the past year, according to Yelp. That total included 38,725 reopenings just in April, the quickest monthly pace since May 2020.
Of those returns, restaurants and retail businesses make up the highest portion, with more than 36,000 in that second-quarter period.
Have a tip we should know? Your anonymity is NEVER compromised. Email firstname.lastname@example.org
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won’t get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won’t put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won’t. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left’s war on freedom. Our readers’ contributions make that possible.
Geller Report’s independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.
Read More Feedzy