Historically high inflation rates and a U.S. economy still reeling from the effects of the COVID-19 pandemic have stoked fears of mass layoffs and job losses. Yet despite these fears, initial jobless claims haven't spiked as expected; rather, they have gradually increased, leading some to believe the worst is behind us. In this video, economists at EPB Research take a closer look at the data to find out why mass layoffs haven’t started—and why that doesn’t mean we’re out of the woods yet.