Month: May 2023

The U.S. Labor Department reported that the four-week moving average for jobless claims through the week ending May 6 was the highest it’s been since November 2021. First-time claims for unemployment insurance increased by 22,000 from last week to reach 264,000. The less-volatile, four-week moving average to the week ending May 6 was 245,250, an increase of 6,000 from last week.  The department reported: “This is the highest level for this average since November 20, 2021, when it was 249,250.”

However, the number of people who’ve filed over multiple weeks during the week ending April 22 was 1.7 million – a decline of nearly 64,000 from the prior week (at the same period last year, there were 1.44 million in continued-week claims).

The uptick in first-time claims may be good news towards fighting inflation. Jerome Powell, the head of the Federal Reserve, said last week that the 25 basis point rate hike was to ensure the labor market remains healthy while at the same time keeping prices stable. Economists say that last week’s surge could mark the start of an upward trend as the cumulative and lagged effects of the Fed’s rate hikes broaden out in the economy. Layoffs also appear to be spreading to other industries. Most were initially based in the technology sector; for example IBM, Microsoft, Salesforce, Twitter, Lyft and DoorDash have all announced layoffs in recent months, and Amazon and Facebook have each announced two sets of job cuts since November. But now other industries including McDonald’s, Morgan Stanley and 3M have also recently announced layoffs.

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The Food and Drug Administration eased restrictions specifically for gay and bisexual men to donate blood. The agency said in a news release that blood donor eligibility will now be determined using a set of “individual, risk-based questions to reduce the risk of transfusion-transmitted HIV.”

The recommendations ask that all donors answer individual risk assessment questions to screen for possible HIV exposure. Previously, guidelines required a three-month abstinence period for donations from men who have sex with men; now, that blanket rule is being eliminated. Peter Marks, M.D., PhD., director of the FDA’s Center for Biologics Evaluation and Research, said in a news release announcing the finalization of the recommendations: “The FDA has worked diligently to evaluate our policies and ensure we had the scientific evidence to support individual risk assessment for donor eligibility while maintaining appropriate safeguards to protect recipients of blood products. The implementation of these recommendations will represent a significant milestone for the agency and the LGBTQI+ community.”  

The restrictions in place were opposed by gay rights groups and medical societies including the American Medical Association. The FDA said that the goal of the new guidelines is to expand the number of people eligible to donate blood while still “maintaining the appropriate safeguards” to keep the supply of donor blood safe, adding that the new policy is based on “the best available scientific evidence,” and mirrors policies in the United Kingdom and Canada.  The news release said: “The FDA is committed to working closely with the blood collection industry to help ensure timely implementation of the new recommendations and we will continue to monitor the safety of the blood supply once this individual risk-based approach is in place.” 

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