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US Initial Jobless Claims Stable Last Week, Economists Concerned About Potential Weakness
Summary: According to reports from FXStreet, the US Department of Labor announced last Thursday that initial jobless claims in the US remained stable last week, which is reassuring. For the week ending July 26, the number of initial claims for unemployment benefits was 218,000, compared to 217,000 the previous week. The number of continued jobless claims ...
According to reports from FXStreet, the US Department of Labor announced last Thursday that initial jobless claims in the US remained stable last week, which is reassuring. For the week ending July 26, the number of initial claims for unemployment benefits was 218,000, compared to 217,000 the previous week. The number of continued jobless claims was 1.95 million, unchanged from the previous week. Last night, the Federal Reserve maintained interest rates for the fifth consecutive meeting, with Fed Chair Powell stating at a press conference that the stable job market indicates no rush to shift towards a more accommodative monetary policy stance by cutting rates. However, some economists are concerned that weakness in the job market may be hidden beneath a strong facade. Despite the relatively low unemployment rate, many workers report long job search times and difficulty finding opportunities.
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Link: US Initial Jobless Claims Stable Last Week, Economists Concerned About Potential Weakness [Copy]
