Reported 2 months ago
The July jobs report indicated a decline in initial jobless claims, dropping to 233,000, according to the US Department of Labor. This data suggests a shift in the labor market dynamics, where companies are retaining employees but are cautious in the hiring process due to cost constraints. Mizuho Securities' chief economist Steven Ricchiuto comments that this trend indicates a transition from above-trend growth to a more sustainable long-term growth trajectory.
Source: YAHOO