US unemployment claims rose slightly by 4,000 to 232,000, while continuing jobless claims reached the highest level since Nov 27, 2021.
US unemployment claims rose slightly last week, increasing by 4,000 to 232,000, while continuing jobless claims reached 1.863 million, the highest level since Nov 27, 2021. This comes amid concerns about labor market stability, as the US economy created 818,000 fewer jobs in the year through March 2024 than initially reported. The Federal Reserve's interest rate hikes to combat inflation have led to higher borrowing costs and dampened economic activity, raising the odds of a Fed rate cut in September.
August 22, 2024
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