Reported 11 days ago
The number of Americans filing for unemployment benefits fell to a four-month low last week, indicating a healthy labor market, as new data showed stronger corporate profits in Q2. Initial claims dropped to 218,000, lower than economists had predicted, while ongoing claims also saw a slight increase, suggesting a mixed picture for employment. Despite downward trends in job openings and hiring, the economy's resilience puts doubt on further significant interest rate cuts by the Federal Reserve.
Source: YAHOO