18 December

Konstantina Beleli, an economist, shared an article on how most economists have forecasted the US labour market to cool off until the Covid vaccines are distributed.

Jobless claims rose to 885,000 with layoffs remaining high in the previous week, indicative that the economy was entering a winter slowdown due to a rise in Covid infections and tighter restrictions on business activities, the article detailed.

Economists also found job claims to have dramatically fallen from a peak high of approximately 7 million in March, but to be gradually increasing as per the four-week moving average.

However, weekly numbers were observed to be volatile around holidays and seasonal adjustments.

Many economists expect the labour market to cool until the distribution of vaccines, which will cause a spurt in business activities and job hiring in the second quarter of 2021.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Although job claims declined in many US states last week, they continued to rise in some populous states such as California and Illinois, which are currently witnessing a rise in Covid cases and tighter restrictions, the article noted.

Read more