Labor Market Going Strong, As Fewer Americans , Apply For Unemployment.
Last week, fewer Americans filed for unemployment
benefits, bringing the total for the week down
22,000 from the week before to reach 242,000.
ABC reports that the number of weekly claims
largely represent the number of U.S. layoffs.
According to the latest Labor Department
data, the four-week moving average of
claims also dropped by 1,000 to reach 244,250.
According to the latest Labor Department
data, the four-week moving average of
claims also dropped by 1,000 to reach 244,250.
The week ending April 29, approximately 1.8 million
people were collecting unemployment benefits,
down by about 8,000 from the week before.
ABC reports that the U.S. job market has quickly
added jobs since the pandemic forced millions
of people to lose their employment three years ago.
ABC reports that the U.S. job market has quickly
added jobs since the pandemic forced millions
of people to lose their employment three years ago.
Despite rising interest rates amid fears
of a recession, the addition of new jobs has
resulted in increased job security for Americans.
In April, the market saw 253,000 new jobs
added, while the unemployment rate fell
to 3.4%, reaching a 54-year low.
Despite the promising numbers, a number
of high-profile layoffs have taken a toll,
particularly in technology industries.
In recent months, IBM, Microsoft
and Twitter are among huge tech companies
to announce significant layoffs.
In recent months, IBM, Microsoft
and Twitter are among huge tech companies
to announce significant layoffs.
Since November, both Amazon
and Facebook have announced
two upcoming waves of job cuts. .
Since November, both Amazon
and Facebook have announced
two upcoming waves of job cuts. .
ABC reports that other major companies outside
of the tech sector have also announced layoffs,
including McDonalds, Morgan Stanley and 3M.
ABC reports that other major companies outside
of the tech sector have also announced layoffs,
including McDonalds, Morgan Stanley and 3M.
ABC reports that other major companies outside
of the tech sector have also announced layoffs,
including McDonalds, Morgan Stanley and 3M