Labor market weakness shows signs of 'leveling off,' keeps Fed on track to cut rates in Sept.

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Jackson Hole,Jerome Powell,Labor Market

Debate on how quickly the labor market is cooling remains at the center of the discussion surrounding Federal Reserve interest rate cuts.

Initial filings for unemployment benefits were roughly flat last week, reflecting a labor market that is cooling but not rapidly deteriorating asreleased Thursday showed 232,000 initial jobless claims filed in the week ending Aug. 17, up from 228,000 the week prior and in line with economists' expectations."Claims appear to be leveling off on a trend basis," Oxford Economics senior economist Nancy Vanden Houten wrote in a note to clients on Thursday.

" solidifies the case for starting cuts in September," Ryan said. "It doesn't necessarily advance the case for aggressive cuts off the bat, which the market has been is looking to get signals for." Then-Federal Reserve Governor Jerome Powell attends the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming August 28, 2015. REUTERS/Jonathan Crosby/File PhotoCanada, FCM energizes first-of-its-kind net-zero neighbourhood in Markham, ON with $8.7 million investment

 

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