Labor Market Remains Strong as, Unemployment Claims , Continue to Fall.
ABC reports that the number of applications for
unemployment in the United States fell sharply
last week, signaling a resilient job market. .
On November 22, the Labor Department
reported that jobless claims had
fallen by 24,000 to reach 209,000.
The week before saw the number
reach 233,000, the highest it
has been since August. .
The latest numbers also show
the four-week moving average
fell by 750 to reach 220,000.
ABC reports that the numbers
remain historically low, signaling
high job security for U.S. workers. .
ABC reports that the numbers
remain historically low, signaling
high job security for U.S. workers. .
For the week ending November 11, the total number
of Americans collecting unemployment benefits was
at 1.84 million, down 22,000 from the week before.
For the week ending November 11, the total number
of Americans collecting unemployment benefits was
at 1.84 million, down 22,000 from the week before.
But job growth remains strong,
the unemployment rate remains
historically low, and businesses
have yet to start reducing their
workforce in a significant way, Rubeela Farooqi, Chief U.S. economist at
High Frequency Economics, via ABC.
But job growth remains strong,
the unemployment rate remains
historically low, and businesses
have yet to start reducing their
workforce in a significant way, Rubeela Farooqi, Chief U.S. economist at
High Frequency Economics, via ABC.
We expect some softening in labor
demand going forward as the effects
of restrictive monetary policy spread
more broadly through the economy, Rubeela Farooqi, Chief U.S. economist at
High Frequency Economics, via ABC.
ABC reports that the combination of a resilient job market
and falling inflation has increased hope that the
Federal Reserve will end its recent rate-hiking campaign. .
ABC reports that the combination of a resilient job market
and falling inflation has increased hope that the
Federal Reserve will end its recent rate-hiking campaign. .
The Fed has raised its benchmark interest rate
eleven times since March of 2022 in an attempt to
slow the economy while also preventing a recession.