Mar 2, 2017

Labor crunch: Unemployment claims fall to a 44-year low

Alan Diaz/AP

New claims for unemployment insurance fell again this week to its lowest level since 1973, further evidence that the U.S. labor market continues to strengthen.

Source: U.S. Employment and Training Administration

Why it matters: The U.S. economy is far closer to a labor shortage than it is to an immigration-induced overabundance. Yesterday's beige book release from the Federal Reserve showed anecdotal evidence of labor shortages in key industries like construction and computer engineering. Given these data, further actions to restrict the growth of the labor market could an ill-timed move that slows economic growth.

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Sanders requests recount of Iowa recanvass after results show shrunken margin

Photo: Joe Raedle/Getty Images.

Sen. Bernie Sanders said in a statement Tuesday night he will request a recount of the Iowa Democratic Party's recanvass results.

Where it stands: Both Buttigieg and Sanders requested partial recanvasses in Iowa last week after results were delayed and showed several errors following a software malfunction on caucus night.

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Energy deputy secretary nominee faces heat after contradicting Trump

Mark Menezes speaks at a forum in Addis Ababa, Ethiopia, June 12. Photo: Minasse Wondimu Hailu/Anadolu Agency/Getty Images

Trump administration officials are internally raising concerns about President Trump’s nominee for Energy deputy secretary, who appeared to openly contradict the president on nuclear waste storage at Nevada’s Yucca Mountain last week.

Driving the news: While speaking at a House Energy and Commerce subcommittee hearing last Wednesday, Mark Menezes told members of the panel that the Trump administration is still interested in storing nuclear waste at Yucca Mountain and that “what we're trying to do is to put together a process that will give us a path to permanent storage at Yucca."