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US Labor Market in 'Paralyzed State' as Initial Jobless Claims Slightly Below Expectations
Summary: According to Jinshi News, last week's initial jobless claims in the US rose modestly, indicating that despite ongoing weakness in labor demand, layoffs by the end of 2025 remain relatively low. Due to seasonal adjustments for the year-end holidays, data in recent weeks has been fluctuating, but overall, layoffs are still low by historical standards. ...
According to Jinshi News, last week's initial jobless claims in the US rose modestly, indicating that despite ongoing weakness in labor demand, layoffs by the end of 2025 remain relatively low. Due to seasonal adjustments for the year-end holidays, data in recent weeks has been fluctuating, but overall, layoffs are still low by historical standards. Employers are hesitant to increase hiring due to tariff uncertainties and the proliferation of artificial intelligence, leading to a 'paralyzed' state in the labor market. The market's focus has now shifted to the December nonfarm payroll report set to be released on Friday. Economists expect an increase of 60,000 jobs in nonfarm payrolls last month, with the unemployment rate projected to drop from the over four-year high of 4.6% touched in November to 4.5%. It is worth noting that the November unemployment rate data was partially disrupted by the 43-day federal government shutdown.
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