US jobless claims inch down as labor market remains tight

VIDEO: Fed hikes interest rate 0.25% amid banking fears

The four-week moving average of claims, which flattens out some of week-to-week volatility, fell by 250 to 196,250, remaining below the 200,000 threshold for the ninth straight week.On Wednesday, the Federal Reserve extended its year-long fight against high inflation by raising its key interest rate by a quarter-point, despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.

The Fed’s rate increases are meant to cool the economy, labor market and wages, thereby suppressing prices. But so far, those things have not happened to the degree that the central bank had hoped. In its latest quarterly projections, the Fed predicts that the unemployment rate will rise from its current 3.6% to 4.5% by year’s end, a sizable increase historically associated with recessions.

I’ve always wondered if employed numbers count people working multiple jobs? 🤔

LeslieMarshall A lot of people are no longer filing because they ran out of benefits.

Almost to pre-ChinaVirus Trump levels

Have you always been obsessed with Trump? What do you like best the blatant corruption or the fuck ton of lies? Bet you get giddy when he tells his crowds to “Lock Her Up” and “build that wall”? How that working out for you?

MAgA won’t like this.

No better case than this for comprehensive immigration reform. We need more workers.

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