Worker Worries

During the first four weeks of 2023, first time claims for unemployment were about 45,000 below the 2018 -2022 three-year average for each of those weeks. The next four weeks, unemployment claims averaged 10,000 below the three-year average for weeks five through nine. The next 11 weeks averaged 10,000 above, and the last three weeks averaged 30,000 above. Job growth remains positive, but the weakness is obvious and growing.