Reported 19 days ago
Weekly applications for unemployment benefits in the US decreased to 219,000, the lowest in four months, surpassing expectations of 230,000 claims. This decline comes as the Federal Reserve shifted its focus from tackling inflation to supporting the job market, marking its first interest rate cut in four years. Despite a modest job addition of 142,000 in August, the data suggests a cooling labor market under the pressure of higher interest rates.
Source: YAHOO