Reported 4 months ago
The number of Americans applying for unemployment benefits increased slightly last week to 219,000, up from 216,000 the previous week, while layoffs remain historically low. Jobless claims are seen as an indicator of U.S. layoffs and the job market's direction, remaining low since the pandemic. Despite concerns, rapid rate hikes by the Federal Reserve have not led to a recession, with strong consumer demand aiding the labor market. Moderation in job hiring and wage growth might prompt the Fed to lower interest rates, even as some companies announce layoffs across industries.
Source: YAHOO