Initial claims for unemployment benefits ticked up last week, while continuing claims for benefits jumped to their highest level since February — suggesting that people out of work are taking longer to find a job.
ticked up last week, while continuing claims for benefits jumped to their highest level since February — suggesting that people who are out of work are taking longer to find a job.It could be a sign that beneath the surface of a job market that appears exceptionally strong, thingsare based on a survey of about 131,000 employers — asking how many people are on their payrolls, how much they were paid, and so forth.
Both sets of numbers bounce around from month to month, but over time you would expect to see the same trends from both. If employers say they are hiring a lot more, you also expect more people to report that they are employed.what has happened since March. Employers report having added 2.7 million jobs in that span, but only 12,000 more people in the household survey report being employed.There are many potential reasons for this divergence. One is simply sampling error.
People who are self-employed, work in agriculture, are on unpaid leave, or have informal or off-the-books employment arrangements don't count in the establishment survey — butThe gloomier picture of job growth shown by the household survey may be an early warning sign about a softening labor market, argues Kathryn Anne Edwards, an economist at the RAND Corp.
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