A leading indicator of unemployment in Lancaster County dropped significantly closer to its pre-pandemic norm last week, new data shows.
The number of new claims for unemployment benefits filed by countians fell 21.8% to 417 claims, its lowest mark since late November, the Lancaster County Workforce Development Board reported Thursday.
âThe trend in initial claims suggests conditions are normalizing,â said economist Naomi Young, director of the Economic Development Company of Lancaster Countyâs Center for Regional Analysis.
âThe data shows the demographic composition of those filing and the overall levels of (new) claims beginning to look more âpre-pandemic.â This is a good sign, but a full recovery is a ways off,â she said.
By: Paula Wolf, Contributing Writer December 30, 2020
2:37 pm
Consumer sentiment in Lancaster County fell for the second consecutive month in December, departing from the national average in that area.
After having been consistently stronger than the U.S. figure, the sentiment reading of 83.2 – down three points from November – stilled topped that national number of 81.4. But now the gap is much closer.
The weaker December data was unexpected, said Naomi Young, director of the Economic Development Company of Lancaster County’s Center for Regional Analysis, which conducted the survey.
“It was surprising to find consumer sentiment fall two months in a row,” she said.