Unemployment Claims Rise

Workers filing for unemployment edged up last week.

To view this email as a web page, click here.         What's Happening Today Good Morning, it's Kristin with your daily morning digest.   The number of workers filing for unemployment (referred to as initial jobless claims) in the U.S. rose higher than expected last week, according to a report by the Labor Department (DOL). Worryingly, jobless claims were also higher than they were the previous week, though they remain lower than average weekly claims in February 2020.   That report comes just days after the government shared that a record number of workers quit their jobs in November, while job openings still remained close to their highs. Tomorrow, we'll also get the DOL's December jobs report, which could offer a clearer picture of the current state of the job market in America.    In the markets, the tech-heavy Nasdaq is under pressure again after its biggest daily loss since February yesterday, following the release of minutes from the Federal Reserve's last meeting in December. The minutes suggested the Fed would raise interest rates faster than investors were expecting. Raising interest rates is one of the tools the Federal Reserve uses to tackle inflation, or the rise in prices of goods. But higher interest rates would negatively impact tech stocks (which usually have high rates of growth), because it reduces their future earnings.   - Kristin Editors' Picks Jobless Claims: Another 207,000 Americans Filed New Claims Last Week (Yahoo Finance) Federal Reserve Puts Wheels in Motion for Balance Sheet Reduction (CNBC) Mounting Omicron Infections Force Businesses to Scramble, Threatening Economic Recovery (Washington Post) Credit Bureaus Providing Less Consumer Relief, Feds Say (The Balance) Homeowners Insurance Cost Rising Faster Than Inflation (The Balance) Off the Charts If rising inflation has impacted your plans to buy or sell a house, you're not alone. Nearly three-quarters of homebuyers and sellers in the U.S. said they changed their plans one way or another because of inflation, according to a recent poll by Redfin.     Number of the Day     3.60% - That's the average 30-year mortgage rate being offered by U.S. lenders—the highest interest rate since 2020, according to daily data provided to The Balance. SPONSORED BY DISCOVER PERSONAL LOANS The Ins and Outs of Debt Consolidation Debt is one of the biggest financial challenges Americans face. Find out what you can do to reduce debt and take charge of your finances. LEARN MORE  > More From The Balance The IRS Is Sending You Mail This Tax Season The IRS said it has started sending letters to taxpayers with details of government payments made during the pandemic. Don't throw them out, the agency said. READ MORE  > How Do I Do My Own Payroll and Payroll Taxes? If you need to do payroll, follow these steps to do your own payroll processing, which includes important forms, paycheck preparation, and tax payments and reports. READ MORE  > How (and When) To Unretire Learn how to reverse a retirement, when and how to unretire, the benefits of returning to work, and how to find the best job options for former retirees. READ MORE  > How can we improve The Balance Today newsletter? Tell us at newsletters@thebalance.com. Email sent to: kholish2011.jobsearch@blogger.com You are receiving this newsletter because you subscribed to The Balance Today newsletter. If you wish to unsubscribe, please click here. Dotdash Meredith 28 Liberty Street, 7th Floor, New York, NY 10005 © 2022, Dotdash - All rights reserved Privacy Policy