Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 224,000 for the week ended Nov. 30
Though the labor market is easing, wage pressures are not showing a significant cooling, casting a shadow over the inflation and interest rate outlook
Initial claims decreased by 12,000 to 216,000 in the week ended Oct. 26. The median forecast in a Bloomberg survey of economists called for 230,000 applications
The labour department said that initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 227,000 for the week ended Oct.19
The number of Americans applying for unemployment benefits fell to their lowest level in four months last week. Jobless claims slid by 12,000, to 219,000, for the week of Sept 14, the Labour Department reported Thursday. That's fewer than economist expectations for 230,000 new filings. The four-week average of claims, which evens out some of weekly volatility, fell by 3,500 to 227,500. The total number of Americans collecting jobless benefits fell by 14,000 to about 1.83 million for the week of Sept. 7. That's the fewest since early June. Weekly filings for unemployment benefits are considered largely representative of layoffs.
Government data last week showed nonfarm payrolls increasing by less than expected in August but the unemployment rate falling to 4.2 per cent from 4.3 per cent in July
Hiring by America's employers picked up a bit in August from July's sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy. Employers added 142,000 jobs last month, up from a scant 89,000 in July, the Labour Department said on Friday. The unemployment rate ticked down to 4.2 per cent from 4.3 per cent in July, which had been the highest level in nearly three years. Collectively, Friday's figures depict a job market slowing under the pressure of high interest rates but still growing. Many employers are responding to the resilience of consumers, who stepped up their spending in July, even after adjusting for inflation. With inflation falling steadily back to the Federal Reserve's 2 per cent target, the Fed is preparing to cut its key interest rate from a 23-year high. Friday's mixed report on the job market raises the question of how large a cut the Fed will announce after it meets September 17-18.
Nonfarm productivity, which measures hourly output per worker, increased at a 3.2% annualized rate last quarter, the Labor Department's Bureau of Labor Statistics said on Thursday
The number of Americans applying for unemployment benefits last week fell to its lowest level in more than a year, underscoring the resilience of the labour market despite elevated interest rates that are intended to cool the economy. Jobless claim applications fell to 187,000 for the week ending January 13, a decrease of 16,000 from the previous week, the Labor Department reported Thursday. That's the fewest since September of 2022. The four-week average of claims, a less volatile reading, fell by 4,750 to 203,250. That's the lowest four-week average in almost a year. Overall, 1.81 million Americans were collecting jobless benefits during the week that ended Jan. 6, a decline of 26,000 from the previous week. Weekly unemployment claims are viewed as representative for the number of US layoffs in a given week. They have remained at extraordinarily low levels despite high interest rates and elevated inflation.
The government reported on Wednesday that job openings fell to near a three-year low in November. Labor market strength is expected to again shield the economy from recession this year
The figures tend to be volatile around the holidays. The four-week moving average, which offers a clearer picture of the trend, was little changed at 212,000 last week, the lowest since late October
Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 217,000 for the week ended Oct. 28, the Labor Department said
Spot gold was nearly unchanged at $1,977.79 per ounce by 1131 GMT
Data from the Bureau of Labor Statistics on Thursday showed 264,000 new claims were filed for jobless benefits on a seasonally adjusted basis in the week ended June 17
The government reported on Wednesday that the annual increase in consumer prices slowed to below 5% in April for the first time in two years
Initial unemployment claims rose by 11,000 to 239,000 in the week ended April 8, Labor Department data showed Thursday
Initial unemployment claims increased by 21,000 to 211,000 in the week ended March 4, Labor Department data showed Thursday
Applications for US unemployment insurance last week fell slightly, hovering around historically low levels as the labor market holds strong despite a weakening economy
The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve's rapid interest rate hikes this year intended to bring down inflation and tighten the labour market. Applications for jobless claims for the week ending Nov. 12 fell by 4,000 to 222,000 from 226,000 the previous week, the Labour Department reported Thursday. The four-week moving average rose by 2,000 to 221,000. The total number of Americans collecting unemployment aid rose by 13,000 to 1.51 million for the week ending Nov. 5. a seven-month high, but still not a troubling level. Applications for jobless claims, which generally represent layoffs in the U.S., have remained historically low this year, deepening the challenges the Federal Reserve faces as it raises interest rates to try to bring inflation down from near a 40-year high.
Economists polled by Reuters had forecast 250,000 job gains, with estimates ranging from as low as 127,000 to as high as 375,000