The Texas Employment Forecast estimates jobs will increase 1.6% in 2024. This is a decrease from the previous month’s forecast of 1.9% for 2024. The Texas Employment Forecast model was adjusted to control for the effects of Hurricane Beryl on the data. https://lnkd.in/gmtENnyM
Federal Reserve Bank of Dallas’ Post
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I know today’s jobs report show signs of a slowing economy and essentially has given the feds ammunition to cut rates but don’t take the numbers just at face value. We’re still adding a good amount of jobs to our economy and while unemployment saw a jump, there were tons of claims filed in Texas because of the hurricane. It will be interesting to see how unemployment corrects itself next month if people are back at work.
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Week 29 - 5 Things to Know in Investing This Week Point 2) Jobless Claims Come in High: For the week ending July 13th, initial jobless claims in the United States surged to 243,000, up from 223,000 the previous week. This increase of 20,000 claims exceeded the original estimate of 229,000 by 14,000. Several factors may have contributed to this unexpected rise. One significant factor was Hurricane Beryl, which impacted Houston last week, potentially leading to a temporary increase in jobless claims due to disruptions in businesses and employment. Additionally, the end of a U.S. holiday period can sometimes lead to fluctuations in jobless claims as seasonal employment adjusts. Despite the caveats, this is a sign of a cooling labor market.
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ECONOMY WATCH: U/E CLAIMS DATA Jobless Claims Jump to 243,000 and Match Nearly One-year High in Wake of Hurricane Beryl MarketWatch (07/18/24) Bartash, Jeffry The number of Americans who applied for unemployment benefits last week increased to 243,000 and matched a nearly one-year high, driven by a spike in new jobless claims in Texas after hurricane Beryl. New claims rose by 20,000 in the seven days ended July 13 from 223,000 in the prior week, the U.S. Department of Labor reported. Even if the effects of the hurricane are stripped out, new claims appear to have increased a bit from very low levels earlier in the year. That suggests layoffs have risen a bit and that people are taking longer to find work. Economists polled by the Wall Street Journal had forecast new claims to total 229,000, based on seasonally adjusted figures. New jobless claims rose in 40 of the 53 states and territories that report these figures to the federal government. They fell in 13 others.
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Jobless claims surge to highest level in more than a year According to the Labor Department, the number of Americans filing for unemployment benefits jumped by 33,000 to 258,000 in the week ending October 5th, marking the highest level of initial claims since early August. Part of the spike may be attributed to Hurricane Helene, as non-seasonally adjusted claims rose significantly in Florida and North Carolina. Economists anticipate the storm’s impact will be felt over the coming weeks. However, there were also notable increases in claims from Ohio and California, which analysts believe are linked to the ongoing strike at Boeing.
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Jobless claims unexpectedly fall following previous week’s jump Bloomberg News | October 17, 2024 Applications for US unemployment benefits unexpectedly fell after jumping the previous week in Southeastern states affected by Hurricane Helene, and data will probably remain volatile in the coming weeks. Initial claims decreased by 19,000 to 241,000 in the week ended Oct. 12. The median forecast in a Bloomberg survey of economists called for 259,000 applications. Continuing claims, a proxy for the number of people receiving benefits, increased to 1.87 million in the previous week to the highest since July, according to Labor Department data released Thursday. The damage done by Helene and Hurricane Milton, which hit Florida two weeks later, has left many people unable to work and possibly unable to file for benefits. That means claims will continue to fluctuate in the near term, although economists anticipate this lumpiness will eventually subside. Up until this point, weekly filings were subdued, in part because the number of Americans losing their jobs was relatively low. Another reason behind the drop in initial filings was a sizable drop in Michigan, on an unadjusted basis. Claims in the state declined by the most since February 2022 after jumping by a large amount in the two previous weeks due to layoffs in manufacturing. The four-week moving average of new applications, a metric that helps smooth out volatility, rose to 236,250, the highest since August. Before adjusting for seasonal factors, initial claims fell last week. Florida and North Carolina saw some of the largest declines. #jobs #joblessclaims #unemployment #employment #laborforce #work #economy
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If you are from the paradise peninsula known as the Wirral like me, you will have heard of West Kirby's new addition. £20 million for a flood protection wall that not only doesn’t prevent the roads from flooding it actually stops the water from draining. All that money just to watch it do the opposite of its original function. At least it looks really nice though… Recruitment agencies can be like that sometimes, asking for high fee rates and not delivering the quality of service to justify them. If it feels like your agency isn’t performing as it promised but costing you an arm and a leg send me a message to explore your options. Just like there are for this wall, there are better options out there that can deliver true value for money. #recruitment #recruitmentagencies #UKjobs #UKrecruitment #Notfitforpurpose
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Remembering that time I applied for a managerial position at a company and never heard back from them. Then a year later I got a call, in the afternoon, from them asking if I can come in for an interview the NEXT morning, for an ENTRY LEVEL position that I never applied for, while the country was under a hurricane watch. Despite being perplexed at the audacity I pointed out that the country was currently under a hurricane watch. They completely brushed that off. I then asked for a copy of the job description to know what it entails. Several hours later they finally send me.... a copy of the ad they previously used to advertise the position, which contained no details of what the position entailed. The next morning the PM announced that all businesses were to shutdown at 12 noon due to the impending hurricane approaching our shores (thankfully we weren't hit). I promptly emailed the company and suggested that since they wanted to have the interview at 11, and the country was shutting down at 12, and due to the extremely late notice of the request, that the interview should be rescheduled. I gave two different days the following week when I would be available (since I have my own thing going on and not just sitting around waiting for businesses to ask me to interview for positions I am grossly overqualified for). Their response was very dismissive and I never heard from them again. Too often businesses, and their HR staff, act like hiring you is them doing you a favour, and staff and job applicants should grovel for any scraps they throw your way. How often are interviewees given a time to come in, and then have to wait hours before their interview starts, but if they are five minutes late they are instantly dismissed. Companies need to respect interviewees (and staff) more, not waste their time, and not deliberately try to low ball them.
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Stay Safe, Tampa! Hurricane Milton is on its way! ⛈ As a recruiter here in Tampa, my heart goes out to everyone in the path of Hurricane Milton. If you're in the midst of a job search, I know that this can add a layer of stress during an already challenging time. Here’s some advice to help you stay focused and safe: #1 Prioritize Safety First: Your well-being is the most important thing. Be sure you and your family are prepared and have a plan in place. #2 Stay Connected: Power and internet might go down. Make sure your devices are charged and keep backup copies of important documents, like your resume and cover letters, accessible offline. #3 Use This Time to Reflect: If you can, use this period to refine your job search strategy. Update your LinkedIn profile, polish your resume, or research companies you're interested in. #4 Stay Positive: Job searching during uncertain times can be tough. Remember, companies understand that disruptions like this happen, and they'll be more understanding than you think. Stay safe, Tampa, and if you need advice or help with your job search, feel free to reach out. We’ll get through this together! 💪 #HurricaneMilton #TampaStrong #JobSearchTips #RecruitingInTampa #StaySafe #TQL
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Need to file for Disaster Unemployment Assistance (DUA)? You have 3 options: 1️⃣File online at des.nc.gov 2️⃣Call the DUA Hotline 919-629-3857 3️⃣Go to an NCWorks Career Center More: des.nc.gov/dua
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Results-Driven IT Leader | 15+ Years in Global IT Operations & Service Management | Empathetic Leader Focused on Empowering Teams & Driving Innovation
As the Southeast continues to recover from the devastation of a recent hurricane, many people are already facing the reality of being displaced from their homes and out of work. Now, the timing of the labor strike only compounds their challenges. For those who are already just scraping by—families trying to rebuild their lives, workers looking for jobs, and businesses trying to stay afloat—the strike could have a ripple effect. Supply chains are disrupted, resources are harder to come by, and the economic impact is felt even more acutely by those already stretched thin. While labor strikes are often necessary to address workers' rights and fair compensation, it's crucial to consider how such actions, especially during times of disaster recovery, can hit those already at their breaking point. The strain on industries and communities impacted by both the hurricane and the strike highlights the delicate balance between advocating for rights and the unintended consequences that ripple through the economy. In times like these, it's essential that we support one another, rebuild communities, and find ways to navigate through these compounded crises together. What are your thoughts on balancing labor rights with the economic hardships faced by disaster-stricken regions? How can we ensure that advocacy and recovery efforts go hand in hand? #LaborStrike #HurricaneRecovery #EconomicImpact #CommunitySupport #SupplyChain #EastCoast
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