In response to U.S. filings for unemployment benefits fall to 226,000 last week as layoffs remain historically low
This may be misleading; the number of new people requesting benefits last week alone is a stronger indication of a pause in layoffs than unemployment levels.
How it feels: Both chain and local restaurants are closing, which is usually a sign that money is tight for those still working and that unemployment is rising. Add to that all the people I see posting and hear from about how bad the job market is. I know the number of recruiters trying to hire me away has dropped way off as well. Lastly, per USAFacts, 6.95 million people have been laid off in 2026, including 1.69 million in April alone.
On the plus side, 2026 is trending a bit below 2025, but that might be a question of running out of people companies can cut and still be operating, and says nothing about those whose benefits have run out, which might be propping up the getting benefits numbers since more run out after 6 months. But St. Louis Fed FRED Chart shows almost a million more people are employed now than at the February low. So the numbers appear to be at odds with how people are experiencing the job market.
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