The Labor Department reported that <strong>initial jobless claims</strong> surged last week to its highest level since August 25th. Claims had been locked in a very tight range for the last few weeks and were bound to break at some point. More than half of the advance was due to a jump in claims in New York. First time claims in regular state programs recorded 231,000 for the week ending May 4th after the prior week’s report of 209,000. The four-week moving average climbed to 215,000 from 210,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, gained 17,000 to 1,785,000 for the week ending April 27th. The insured unemployment rate, the number of people currently receiving unemployment insurance as a percentage of the labor force, remained at 1.2%.

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That could create an opportunity for leader UnitedHealth, which has relatively better profit margins, to grab more market share, argues Scott Fidel, an analyst at Stephens.

Stephens analyst Scott Fidel<strong> </strong>has maintained their bullish stance on PACS stock, giving a Buy rating today.

Newman’s successor will likely focus on negotiating the details of the USPS contract, said <strong>Daniel Imbro, a managing director at investment bank Stephens</strong>.

LINKBANCORP, Inc. Has Agreed To Sell Three Branches To American Heritage Federal Credit Union | $105 Million Deposits | 05/09/2024

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The Labor Department reported that <strong>initial jobless claims</strong> remained unchanged last week as claims remain locked in a tight range since the first week of February. The data shows no evidence of increasing layoffs or increasing friction against people finding a new job after losing one. First time claims in regular state programs recorded 208,000 for the week ending April 27th after the prior week’s report of 208,000. The four-week moving average declined to 210,000 from 213,500 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, also remained unchanged at 1.774 million for the week ending April 20th. The insured unemployment rate, the number of people currently receiving unemployment insurance as a percentage of the labor force, remained at 1.2%.

$5,495,000 | 05/15/2024

$1,570,000 | 05/15/2024