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U.S. Jobless Claims Ease as Hiring Picks Up | Hellenic Shipping News Worldwide

U.S. Jobless Claims Ease as Hiring Picks Up New filings for unemployment benefits last week neared their lowest level since the pandemic fueled a surge in layoffs last March, adding to evidence of renewed labor-market growth. Jobless claims, a proxy for layoffs, fell to a seasonally adjusted 712,000 in the week ended March 6, down about 200,000 from an early January peak and close to a pandemic low point reached last November. The four-week moving average, which smooths out volatility in week-to-week numbers, was 759,000 for the week ended March 6, slightly higher than the previous pandemic low recorded last November. The weekly average in 2019, the year before the pandemic started, was 218,000.

Afternoon Coffee: Icertis funding; Jobless claims; Fraud COVID-19 vaccine

Adobe Stock Icertis, a contract lifecycle management solution provider, announced an $80 million round of funding on Thursday, bringing its valuation to over $2.8 billion. According to a press release, the series F round was led by existing investor B Capital Group, with participation from Greycroft, Meritech Capital Partners, Premji Invest, PSP Growth and e.ventures. The CLM company has now raised over $280 million, and the current funding nearly triples its valuation after its most recent round of funding in July 2019. Icertis said it will use this latest funding to invest in its artificial intelligence (AI) and blockchain development, expanding sales and marketing, and building its global partner network.

U.S. Jobless Claims Ease as Hiring Picks Up — Update

Afternoon Coffee: February services PMI; Unemployment; Spend Friends

Africa Studio/Adobe Stock Economic activity in the services sector continued to grow in February, according to the latest Services ISM Report on Business. The services PMI — formerly known as the Non-Manufacturing NMI — was 55.3% last month, according to the report. The February number was 3.4 percentage points lower than the January rate of 58.7%. But February’s reading still represents growth in the services sector because any number above 50 indicates expansion. The number represents the ninth straight month of growth after a contraction in the spring because of the Covid crisis. “The composite index indicated growth for the ninth consecutive month after a two-month contraction in April and May,” Anthony Nieves, the Chair of the ISM Services Business Survey Committee, said in a press release. “There was a pullback in the rate of growth in the services sector in February. Respondents are mostly optimistic about business recovery and the economy. Production-capacity constraints, material shortages and challenges in logistics and human resources are impacting the supply chain.”

Unemployment claims drop to lowest level since November

Unemployment claims drop to lowest level since November By Irina Ivanova Weekly jobless claims decline The number of Americans filing first-time unemployment claims dropped to its lowest level since late November, while the ranks of those receiving long-term jobless assistance swelled. Roughly 730,000 people filed for unemployment benefits in the week ended February 20, the Labor Department said Thursday. That's a drop of 111,000 from the prior week. Another 451,000 people applied for Pandemic Unemployment Assistance, a federal program for self-employed and gig workers. "Despite weekly directional changes, the magnitude of total initial claims is still extreme at 5.6 times higher than the pre-COVID era," AnnElizabeth Konkel, economist at the Indeed Hiring Lab, said in a note.  

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Euro to US Dollar (EUR/USD) Exchange Rate Pushes Higher as Jobless Claims Disappoint | Euro Exchange Rate News

At the time of writing the pair are currently trading at around $1.2083. Euro (EUR) Supported by US Dollar (USD) Weakness The Euro has been supported today as its negative correlation with the US Dollar (USD) pushes the single currency higher. A fall in US Treasury yields has resulted in the US Dollar weakening this morning, allowing the Euro to push further and gain on the back of the negative correlation. However the Euro’s gains have been limited today following the preliminary Eurozone consumer confidence for February. Although gaining on the previous month by 0.7 points and beating forecast of -15, the indicator remains deep in contraction.

Jobless Claims Show Little Sign That Layoffs Are Easing

New claims for state unemployment remain stubbornly high as the labor market struggles to regain momentum after the winter surge in coronavirus cases. A total of 862,000 workers filed initial claims for state unemployment benefits last week, roughly the same number as the revised total for the week before, the Labor Department said Thursday. On a seasonally adjusted basis, the total was 861,000, an increase of 13,000. After initial claims hit...

Unemployment claims show continuing pressure on the economy

Economists had expected to see a steady downward trend in initial claims, but the report amounted to fresh evidence that the economic recovery’s momentum has stalled.

U.S. state jobless claims ease while federal programs swell