News Formal

U.S. jobless claims applications fall as labor market continues to show resiliency

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 53%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The U.S. labor market continues to flex its muscle, as applications for jobless claims fell again last week and remain at healthy levels despite high interest rates and elevated inflation.

A hiring sign is displayed outside a hardware store in Buffalo Grove, Ill., Sunday, July 9, 2023. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week

The four-week moving average of claims, which softens some of the week-to-week volatility, rose by 2,750 to 234,250.Troubling levels of inflation moved the Federal Reserve to raise interest rates at a breakneck pace for the past year-and-a-half: the central bank raised its benchmark rate 11 times to the current 5.4%, a 22-year high.

Job openings in June fell below 9.6 million, the fewest in more than two years. However, the numbers remain unusually robust considering monthly job openings never topped 8 million before 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Frisky In Frisco: Couples Are Already Getting Down To Business In RobotaxisSeveral San Francisco Cruise customers claim they've already had sex in autonomous vehicles
Source: Carscoop - 🏆 306. / 63 Read more »