US – Initial Claims
08/11/2019 09:59 am MYT
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The seasonally adjusted initial claims for the week ending 2 Nov 2019 was 211,000, which decreased by 8,000 from the previous week. The 4-week moving average increased 250 from the previous week to 215,250 – see figure 1. Continuing jobless claims for the week ending 26 Oct 2019 registered a seasonally adjusted 1.690 mln, down 3,000 from the previous week, while the 4-week moving average was unchanged at 1.687 mln. 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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