The number of Americans who submitted new Unemployment Benefit Applications fell more than expected last week as Covid-19 infections declined, suggesting an expected slowdown in job growth in January was likely temporary.
Initial claims for state unemployment benefits fell by 23,000 to a seasonally adjusted total of 238,000 in the week ending January 29, the data showed Thursday. work Department. Economists polled by Reuters expected 245,000.
Orders increased from early January to mid-month, amid a spate of coronavirus infections fueled by the Omicron variant. Business activity, especially in the service sector, has been affected by the latest wave.
ADP’s national employment report on Wednesday showed that private payrolls fell for the first time in a year in January, increasing the possibility that the broader economy lost Job positions last month.
According to the Census Bureau’s Household Pulse Survey, released in mid-January, 8.8 million people said they were not working due to reasons related to the coronavirus between December 29 and January 10.
People who are ill or in quarantine and are not paid during the payroll survey period are counted as unemployed in the Labor Department’s survey of businesses, even if they are still employed by their companies.
The government will probably report on Friday that the non-farm payrolls they added 150,000 jobs last month, after growing by 199,000 in December, according to a Reuters poll among economists.
Estimates range from a decrease of 400 000 to an increase of 385 000. The unemployment rate is expected to remain unchanged at 3.9%, underlining the tightening of market conditions. working market.
Reference-www.eleconomista.com.mx