Jobless claims rise, as up-and-down trend continues in tight market

The number of Americans filing new claims for jobless benefits increased moderately last week, while continuing claims hit a 10-month high towards the end of November, suggesting the labor market was gradually slowing down.continue increasing interest rates

as it fights inflation. The labor market has remained resilient in the face of growing recession risks, caused by the Fed’s aggressive monetary policy campaign. “Overall, the labor market remains tight and demand for workers is strong,” said Rubeela Farooqi, chief US economistat High Frequency Economics in White Plains, NY. “But the claims data are suggesting a very gradual shift up in layoffs. “Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 230,000 for the week ended Dec. 3. Last week’s increase was in line with economists’ expectations.

Labor market conditions remain tight, keeping the Federal Reserve on course to continue increasing interest rates as it fights inflation.Claims tend to be volatile at the start of the holiday season as companies temporarily close or slow hiring, which can make it hard to get a clear read of the labor market. They

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. jobless claims climb to 230,000 in sign labor market is slowly cooling offThe number of Americans who applied for unemployment benefits in early December rose slightly to 230,000, pointing to a slow but steady increase in layoffs... 'People are no longer working 3 jobs. They are only working 2 jobs for now'
Source: MarketWatch - 🏆 3. / 97 Read more »

U.S. jobless claims climb to 230,000 in sign labor market may be slowly cooling offNew unemployment filings increased by 4,000 from the prior week, the government said. The data point to a slow but steady increase in layoffs as the U.S. economy weakens. Just the beginning. Yet every business I see has “now hiring” signs posted. There are still many jobs available.
Source: MarketWatch - 🏆 3. / 97 Read more »