Reported 1 day ago
Jobless claims have hit a seven-month low, with 213,000 initial claims filed in the week ending November 16, down from 219,000 the previous week. This trend suggests the labor market is stabilizing despite recent disruptions from strikes and hurricanes. Continuing unemployment claims rose to 1.9 million, the highest since November 2021. Experts note that while the labor market had shown weaknesses earlier, recent data shows resilience, with the unemployment rate dropping to 4.1%. As a result, there is a cautious outlook on future interest rate cuts by the Federal Reserve.
Source: YAHOO