US Jobless Claims Fall to 11-Month Low, Signaling Stable Labor Market

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US Jobless Claims Fall to 11-Month Low, Signaling Stable Labor Market
Unemployment,Labor Market,Federal Reserve

The number of Americans filing new applications for unemployment benefits dropped to an 11-month low last week, indicating a stable labor market. Despite this, a slowdown in hiring has resulted in some laid-off workers experiencing prolonged periods of unemployment. Signs of a cooling labor market may allow the Federal Reserve to keep interest rates unchanged in January.

<p>WASHINGTON — The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market, though a slowdown in hiring has led&

 central bank last month projected a shallower path of rate cuts this year than had been forecast in September, when it launched its policy easing cycle.

 

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