Signs of a steadily cooling labor market could allow the Federal Reserve to keep interest rates unchanged in January against the backdrop of still high inflation
Initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 219,000 for the week ended Dec. 21, the Labor Department said
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
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
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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
A step-down in hiring, which pushed the unemployment rate to a near three-year high of 4.3 per cent in July rattled investors and fanned concerns that a recession was stalking the economy
The rally in IT stocks came on the heels of a major drop in US jobless claims, which fell to 233,000 for the week ending August 3-the largest decline in nearly a year.
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year
'The number of people receiving benefits after an initial week of aid, a proxy for hiring, slipped 9,000 to a seasonally adjusted 1.851 million during the week ending July 13'
A loosening labour market and ebbing inflation position the Federal Reserve to cut interest rates in September, with financial markets anticipating additional cuts in November and December
Retail sales dropped 0.8% last month, the Commerce Department's Census Bureau said on Thursday, also likely weighed down by winter storms
The consumer price index (CPI) rose 0.3% last month after nudging up 0.1% in November, the Labor Department's Bureau of Labor Statistics said on Thursday
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 decreased by 10,000 to a seasonally adjusted 230,000 for the week ended Aug 19
Initial claims decreased by 11,000 to 239,000 in the week ended Aug. 12, according to Labor Department data out Thursday
Applications for unemployment benefits have remained largely steady at historically low levels over the last few months, even as other labour-market indicators have suggested an emerging slowdown