New weekly jobless claims rose to 745,000 for the week that ended February 27, the Department of Labor said Thursday. That was better than expected. Economists surveyed by Econoday had forecast a rise to 760,000. The prior week was revised up by 6,000 to 736,000. Jobless claims can be volatile week to week so economists like to look at the four-week average. This fell to 790,750, a decline of 16,750 from the previous week. Jobless claims—which are a proxy for layoffs—remain at extremely high levels. Prior to the pandemic, the highest level of claims was 695,000 hit in October of 1982. In March of 2009, at the depths of the financial crisis recession, jobless claims peaked at 665,000. Even when the economy is creating a lot of demand for workers, many businesses will shed employees as they adjust to market conditions. But in a high-pressure labor market, those employees quickly find jobs and many never show up on the employment rolls. What appears to be happening now is that … [Read more...] about Jobless Claims Rise By Less Than Expected
Hit record jobs
Rents in Denver have fallen during the pandemic, according to a recent market report, but that doesn’t mean apartment developers are any less keen on a city that was a hot spot for rent growth before COVID-19 came calling. In fact, the number of would-be apartments in the planning pipeline for the metro area hit a record 46,000 in December, according to Denver data firm Apartment Insights. The X Company, the Chicago-based developer behind the X Denver apartment tower that is inching toward completion after nearly three years of construction just north of Coors Field at 3100 Inca St., embodies that enthusiasm for the Mile High City even in the face of shifting consumer preferences. X Denver offers traditional studio and one-bedroom apartments inside its 12-story, 455-apartment frame, but the X Company also allows people to rent individual bedrooms with private bathrooms in two-, three- and four-bedroom “co-living” apartments with shared kitchens and common areas. Tenants can … [Read more...] about The X Denver apartment building is all about shared community space. Will it and other new projects succeed in the pandemic?
Michael D'Antonio is the author of the book "Never Enough: Donald Trump and the Pursuit of Success " and co-author, with Peter Eisner, of the book " High Crimes: The Corruption, Impunity, and Impeachment of Donald Trump." The opinions expressed in this commentary are his own. View more opinion on CNN. (CNN) The Pentagon inspector general tells us that many who worked with Ronny Jackson -- the former Trump White House physician and now a member of Congress from Texas -- think he was a "tyrant" and a "dictator" prone to "yelling, screaming, cursing, or belittling subordinates." Michael D'Antonio Witnesses say he suffered "meltdowns" and "tantrums" and made "sexual and denigrating comments" about a female subordinate (allegations he denies). Trump called this man "one of the finest people that I have met"-- and then similar accusations scuttled his attempt to make Jackson his Veterans Administration chief, so he created a new job for him : … [Read more...] about Ronny Jackson and the ‘former guy’