Initial jobless claims declined for the week ending February 8. Glassdoor Senior Economist Daniel Zhao joins Wealth to discuss what this signals about the broader labor market.
Zhao notes that initial jobless claims are "relatively healthy," though continuing claims are higher year over year. This aligns with the job market's narrative of a "gradual cooling, a gradual slowing down," he explains to Yahoo Finance, attributing this to "sluggish hiring" as laid-off individuals struggle to find new employment.
"What we're seeing is that there's an increasing amount of employee anxiety about layoffs on Glassdoor," he tells Yahoo Finance, adding, "We're definitely seeing a modest increase in how anxious workers are about the prospects of layoffs and about the state of the current job market."
However he points to sectors like healthcare, education, and government jobs are leading job gains.
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This post was written by Angel Smith