US – Initial Claims
11/01/2019 09:29 am MYT
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The seasonally adjusted initial claims for the week ending 5 Jan 2019 were 216,000, down 17,000 from the previous week. The 4-week moving average increased 2,500 from the previous week to 221,750 – see figure 1. Continuing jobless claims for the week ending 29 Dec 2018 registered a seasonally adjusted 1.722 mln, down 28,000 from the previous week, while the 4-week moving average increased by 15,250 to 1.721 mln. Layoffs continued to veer at historically low levels despite a noticeable rise. The underlying trend remained consistent with a tight labour market.

 

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Even four months after the Covid-19 pandemic broke out, scientists still do not fully understand the mysterious coronavirus - hence, no cure is in sight. Although an increasing number of countries are relaxing restrictions and reopening their economies, with the threat of the SARS-CoV-2 virus still grave and present, most businesses cannot operate normally and some remain closed. As a result, the retrenchment wave has started, with the SME Association of Malaysia reporting that some companies have already retrenched a third of their staff, with more retrenchments on the way. Meanwhile, the Malaysian Employers Federation, the country’s biggest federation of employers, warned that more than 2 mln people may lose their jobs after Raya.

These are scary numbers with serious repercussions. How does one manoeuvre during this very challenging time? Capital Dynamics invites you to join Tan Teng Boo and team in a lively online discussion on 30 May. Please visit https://specialwebinar.icapital.biz/ to find out how you can participate.
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