Jobless Claims Surge On Revisions. Tech Job Cuts Jump 38,487%

Initial US jobless claims printed well above estimates in figures released Thursday. Taken at face value, that'd constitute one more in a series of data points suggesting the world's largest economy is cooling and the labor market normalizing (or trying to normalize, anyway). Earlier this week, BLS figures suggested there were far fewer open jobs on the last business day of February than economists projected. A day later, ADP said private sector businesses added 145,000 jobs in March, 60,000 f

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5 thoughts on “Jobless Claims Surge On Revisions. Tech Job Cuts Jump 38,487%”

Further muddying the data, I heard a story on the state-controlled media (NPR) this morning highlighting estimates that only around 25% of those eligible for unemployment payments actually applied to receive them post-Covid.