Jobless claims (people who continue to collect unemployment) fell to a pandemic-era low of about 1.716 million — below the expected 1.875 million and the lowest since pre-lockdown March 2020.

It seems employers are working hard to hold onto what little workforce they have right now. Also it does indicate we’re not seeing a huge new surge of layoffs or quitting.

Omicron doesn’t seem to be that bad compared to previous variants. Signs of milder symptoms and fewer deaths alongside a plethora of treatments make it a cakewalk compared to the early days. Potential workers might be afraid to go find work amid the newest variant (Omicron). But in my opinion, it probably won’t be all that bad. 

This does inspire confidence in the Fed to continue with their aggressive taper. They wanted their improved labor data, and they got it.

Spread the love