Reported 5 months ago
The article reports that weekly jobless claims in the U.S. have decreased, indicating a strong labor market supporting the economy. The decline in claims follows two consecutive weeks and suggests that despite slowing job growth due to Federal Reserve interest rate hikes, layoffs remain low. Economists note that the labor market remains robust, with companies holding onto workers amid challenges in finding labor. The Federal Reserve has raised interest rates to slow demand, but the labor market continues to show strength, with no major signs of unraveling.
Source: YAHOO