Reported 11 days ago
The number of new jobless claims in the US fell unexpectedly last week, suggesting a gradual slowing of the labor market. Despite a decline in claims, the overall economy remains strong, with increased consumer spending driving faster-than-expected growth in the third quarter. The Federal Reserve recently cut interest rates but indicated limited cuts in 2025 due to persistent inflation and economic resilience. Analysts note that while high-income households are benefiting from a robust job market, lower-income households continue to face financial pressures.
Source: YAHOO