Workforce still declining

Workforce still declining

It’s almost certain that we won’t get the official Bureau of Labor Statistics jobs report for September tomorrow as scheduled, as BLS gets shut down as part of the non-essential federal government funding cut-off.  That leaves us with yesterday’s wan ADP private-sector report, today’s Labor Department weekly report on initial jobless claims, and Gallup.  The Labor report shows little change over the last few weeks, with the 308,000 new claims remaining near the five-year low:

The number of Americans filing new claims for jobless benefits edged higher last week but remained at pre-recession levels, a signal of growing strength in the labor market.

Initial claims for state unemployment benefits rose 1,000 to a seasonally adjusted 308,000, the Labor Department said on Thursday….

Don’t break out the bubbly yet. The benchmarks of this series have at least an indirect relation to the overall workforce metrics.

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