{"id":7546,"date":"2023-05-11T21:50:32","date_gmt":"2023-05-12T01:50:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/the-number-of-americans-applying-for-jobless-benefits-is-slowly-increasing-heres-how-it-stacks-up-against-past-recessions\/"},"modified":"2023-05-11T21:50:33","modified_gmt":"2023-05-12T01:50:33","slug":"the-number-of-americans-applying-for-jobless-benefits-is-slowly-increasing-heres-how-it-stacks-up-against-past-recessions","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7546","title":{"rendered":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002044764\" role=\"document\">\n<p>The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their first round of unemployment benefits is beginning to climb. <\/p>\n<p>An analysis of historical data by Bespoke Investment Group shows that a recession could be in the cards, given the growth this year in unemployment claims, even if they haven\u2019t quite reached levels consistent with earlier recessions (see chart). <\/p>\n<div class=\"paywall\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The chart shows the number of Americans filing for jobless benefits has been steadily climbing since the start of 2023. While the trajectory looks similar, on average, it\u2019s important to note that jobless claims have been higher during previous periods preceding a recession. <\/p>\n<p>According to data released by the Department of Labor on Thursday, initial jobless claims rose by 22,000 to 264,000 in the week ended May 6, the Labor Department said Thursday.\u00a0\u00a0<\/p>\n<p>That\u2019s the highest level since October 2021, but it\u2019s still relatively low compared with recent history. <\/p>\n<p>If one excludes data from the year 2020, when claims were elevated due to the advent of the COVID-19 pandemic, the average weekly reading on initial claims over the past 10 years is 278,134, according to a MarketWatch analysis of historical data. <\/p>\n<p>As economists wait to see whether the U.S. economy will enter recession in the months ahead, many are keeping a close eye on employment data. <\/p>\n<p><strong>See:<\/strong> Stock-market investors scan these early recession indicators for signs the U.S. economy will crack. You should, too.<\/p>\n<p>Monthly labor-market data released earlier this month showed the U.S. created 253,000 new jobs in April, surpassing economists\u2019 expectations for 180,000 new jobs. However, figures for the prior two months were revised lower. <\/p>\n<p>Corporations have been laying off workings with alacrity over the past six months, with job losses concentrated in the technology, finance and media fields. Recently, Microsoft Corp.-owned LinkedIn announced plans to lay off more than 700 people. <\/p>\n<p>Amazon.com Inc.<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+1.81%<\/bg-quote><span>,<\/span><br \/>\n       which hired workers in droves during the pandemic, has already announced nearly 30,000 layoffs. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/the-number-of-americans-applying-for-jobless-benefits-is-slowly-increasing-heres-how-it-stacks-up-against-past-recessions-4ec72975?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their first round of unemployment benefits is beginning to climb. An analysis of historical data by Bespoke Investment Group shows that a recession could be in the cards, given the growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-7546","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=7546\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=7546\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T01:50:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-12T01:50:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683856233_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7546#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7546\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions.\",\"datePublished\":\"2023-05-12T01:50:32+00:00\",\"dateModified\":\"2023-05-12T01:50:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7546\"},\"wordCount\":357,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=7546#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7546\",\"url\":\"https:\/\/ifintechworld.com\/?p=7546\",\"name\":\"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-12T01:50:32+00:00\",\"dateModified\":\"2023-05-12T01:50:33+00:00\",\"description\":\"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7546#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=7546\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7546#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld","description":"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=7546","og_locale":"en_US","og_type":"article","og_title":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld","og_description":"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their","og_url":"https:\/\/ifintechworld.com\/?p=7546","og_site_name":"iFintechWorld","article_published_time":"2023-05-12T01:50:32+00:00","article_modified_time":"2023-05-12T01:50:33+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683856233_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=7546#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=7546"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions.","datePublished":"2023-05-12T01:50:32+00:00","dateModified":"2023-05-12T01:50:33+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=7546"},"wordCount":357,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=7546#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=7546","url":"https:\/\/ifintechworld.com\/?p=7546","name":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-12T01:50:32+00:00","dateModified":"2023-05-12T01:50:33+00:00","description":"The U.S. labor market is still in strong shape compared with the prepandemic average. However, slowly but surely, the number of Americans filing for their","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=7546#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=7546"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=7546#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"The number of Americans applying for jobless benefits is slowly increasing. Here\u2019s how it stacks up against past recessions."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7546"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7546\/revisions"}],"predecessor-version":[{"id":7548,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7546\/revisions\/7548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/7547"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}