CLAIMS CONUNDRUM
07/22/2026 |
Job growth over the past year has been very weak, yet initial jobless claims have been surprisingly low for some time. While this may indicate a labor market that’s fine, I’m suspicious. I suspect layoffs are not occurring in manufacturing, where you go straight to the unemployment office once laid off, but rather in services. There, laid-off workers often receive severance packages that delay/reduce their eligibility for unemployment benefits.