U.S. unemployment claims fall to 210,000 and signal labor market still strong

The numbers: New U.S. jobless claims fell by 8,000 last week to 210,000, signaling that layoffs remain extremely low and the economy is still expanding despite more headwinds.Economists polled by the Wall Street Journal forecast initial... The numbers: New U.S. jobless claims fell by 8,000 last week to 210,000, signaling that layoffs remain extremely low and the economy is still expanding despite more headwinds.

Big picture: A smattering of companies have announced plans to cut back on hiring or even cull some jobs, but demand for labor is still quite strong and the unemployment rate sits near a half-century low.The Federal Reserve plans to raise interest rates sharply this year to combat high inflation, a strategy that could slow the economy and soften the labor market. Layoffs usually start to rise steadily before a recession.

Missouri was the only state to show an increase of 1,000 or more. New claims declined in 27 states and the District of Columbia.

Books cooked since 9/11

Singapore Singapore Latest News, Singapore Singapore Headlines

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

European Stocks Set for Cautious Open as Global Markets React to Fed MinutesEuropean stocks are expected to open mixed on Thursday as markets digest the latest signals from the U.S. Federal Reserve regarding rate hikes.
Source: nbcchicago - 🏆 545. / 51 Read more »

US Dollar Down, Vol Down, Stocks Up After May FOMC MinutesThe Fed sees a strong US labor market, while inflation pressures will ease to +4.3% y/y by the end of 2022 and +2.5% y/y by the end of 2023.
Source: DailyFX - 🏆 305. / 63 Read more »

5 Things to Know Before the Stock Market Opens WednesdayU.S. stock futures fell Wednesday after the Nasdaq sank as Snap’s plunge dragged tech stocks lower. LOL.
Source: nbcchicago - 🏆 545. / 51 Read more »