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A jump in weekly jobless claims in the U.S. could be an indication that declining earnings are pushing companies to lay off workers, Piper Sandler economists write in a report. Although “one week doesn’t make a trend,” they write, “the pop in claims to 264k, an upside breakout from its recent 230-245k range, suggests weakening EPS…could be prompting companies to trim headcount.” Last week, initial claims rose by 22,000, beating expectations. “Initial claims may be finally starting to capture the lagged effect of all those layoff announcements early this year, especially from tech,” Piper Sandler’s economists write, adding…
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