US unemployment claims drop, but jobless benefits rise, amid economic growth and Fed rate uncertainty.

US unemployment claims fell to 213,000 last week, near a seven-month low. However, the total number of Americans receiving unemployment benefits rose by 9,000 to 1.91 million, indicating some difficulty in finding new jobs. Despite this, the economy grew at a 2.8% annual rate in the third quarter. The Federal Reserve has cut interest rates twice this year and may do so again in December, but future cuts are uncertain due to inflation concerns.

November 26, 2024
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