The number of Americans who submitted new requests to obtain unemployment decreased last week, indicating that the dismissal of widespread workers is still at a low level.
The Ministry of Labor said today, Thursday, that requests for government unemployment subsidy for the first time decreased by 4 thousand requests to 222 thousand seasonal requests for the week ending on November 12.
The data of the previous week was modified to show the increase in requests by one thousand requests compared to what was previously reported. Economists had surveyed their opinions, who expected 225,000 requests last week.
The technology sector witnessed an increase in the layoffs of workers with the announcement of Twitter, Amazon and Meta, which owns Facebook, this month from canceling thousands of jobs.
Companies are among sectors such as housing and sensitive financing for interest rates as well.
The demobilization operations have not yet appeared in the official data, and requests are hovering around the middle of its scope between 166,61 thousand this year.
Economists say that companies outside the technology and housing sectors maintain workers after difficulties to find work after the Kofid-19.
And with 1.
9 job opportunities for each unemployed in September, some workers who have been demobilized quickly find new jobs. The increase in the demobilization of technology workers raised fears of imminent stagnation.
But economists at Goldman Sachs excluded this in the memo of this week. They said that job opportunities in the field of technology are still much higher than before the pandemic level.
They also pointed out that the demobilization of workers in the technology sector is not historically considered a major indication of the deterioration of the labor market in general.
The Federal Reserve raised interest rates by 375 basis points this year from zero to between 3. 75% and 4% to combat high inflation in the fastest course to raise interest rates since the 1980s.
The economy has so far bear a storm of monetary tightening policy, as data issued yesterday showed strong growth in retail sales in October..
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