Express
Initial Jobless Claims in the US Unexpectedly Decline Last Week, Labor Market Remains Stable
Summary: According to reports from FXStreet, the number of initial jobless claims in the US unexpectedly decreased last week, indicating a stable labor market, despite a slowdown in hiring making it harder for many laid-off workers to find new job opportunities. Data released by the US Department of Labor on Thursday showed that the seasonally adjusted ...
According to reports from FXStreet, the number of initial jobless claims in the US unexpectedly decreased last week, indicating a stable labor market, despite a slowdown in hiring making it harder for many laid-off workers to find new job opportunities. Data released by the US Department of Labor on Thursday showed that the seasonally adjusted initial jobless claims decreased by 4,000 to 217,000 people for the week ending July 19, lower than expected. The data has been declining since initial claims rose to an eight-month high in June. The report also revealed that for the week ending July 12, continuing jobless claims increased by 4,000 to 1.955 million people. Goldman Sachs economist Elsie Peng wrote in the report: Looking ahead, we expect the 'stabilization threshold' for employment growth - the monthly net job additions needed to maintain a stable unemployment rate - to gradually decrease from the current estimate of 90,000 people to 70,000 people by the end of 2025 as immigration continues to slow down.
Tags:
Link: Initial Jobless Claims in the US Unexpectedly Decline Last Week, Labor Market Remains Stable [Copy]
