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Unadjusted claims dropped 34,967 to 210,166 last week amid a plunge of 9,777 in filings in California and a tumble of 6,383 in Texas. ... The unemployment rate is forecast to rise to 4.2% from 4.1 ...
It lowered the state’s unemployment rate to 5.2% from 5.3%, which was the highest in the nation. The added jobs accounted for 16.1% of the country’s gains while California has an 11% labor ...
In California, for instance, the state unemployment rate hit 5.3% in February, up 0.8% from a year ago and the highest in the nation. New Jersey's unemployment rate hit 4.8% in February, also up 0.8%.
This is nothing but a steeper version of the short-run Phillips curve above. Inflation rises as unemployment falls, while this connection is stronger. That is, a low unemployment rate (less than U*) will be associated with a higher inflation rate in the long run than in the short run. This occurs because the actual higher-inflation situation ...
At first, unemployment will go down, shifting AD1 to AD2, which increases demand (noted as "Y") by (Y2 − Y1). This increase in demand means more workers are needed, and then AD will be shifted from AD2 to AD3, but this time much less is produced than in the previous shift, but the price level has risen from P2 to P3, a much higher increase in ...
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 222,000 for the week ended May 11, the Labor Department said. ... more than offseting a notable rise in ...
Milton Friedman argued that a natural rate of inflation followed from the Phillips curve.This showed wages tend to rise when unemployment is low. Friedman argued that inflation was the same as wage rises, and built his argument upon a widely believed idea, that a stable negative relation between inflation and unemployment existed. [11]
Some 40,000 California workers quit the labor force in March, pulling the unemployment rate down slightly to 8.3% but feeding stubborn joblessness. California is 'clawing back' from pandemic ...