Fewer Americans filed for unemployment benefits last week as the labor market remains sturdy despite high interest rates.
A hiring sign is displayed at a restaurant in Chicago, Thursday, June 27, 2024. On Thursday, July 11, 2024, the Labor Department reports on the number of people who applied for unemployment benefits last week.
Economists say that because so-called continuing claims have been on the rise in recent months, it suggests that some who are receiving unemployment benefits are finding it more challenging to land jobs.The four-week average of claims, which evens out some of the week-to-week volatility, fell by 5,250 to 233,500.
Many economists had expected the rapid rate hikes would trigger a recession, but so far that hasn’t happened, thanks in large part to strong consumer demand and a resilient labor market. As, the Fed's goal of a soft-landing — bringing down inflation without causing a recession and mass layoffs — appears within reach.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 'Great Hesitation': Fewer Americans are switching jobs lately as labor market coolsA new report published by Bank of America Institute shows that fewer Americans are switching jobs, a trend that has been dubbed the 'Great Hesitation.'
Read more »
Fewer Americans apply for jobless claims last week as labor market remains sturdyFewer Americans filed for unemployment benefits last week as the labor market remains sturdy despite high interest rates. The Labor Department reported Thursday that jobless claims for the week ending July 6 fell by 17,000 to 222,000 from 239,000 the previous week.
Read more »
Fewer Americans apply for jobless claims last week as labor market remains sturdyFewer Americans filed for unemployment benefits last week as the labor market remains sturdy despite high interest rates.
Read more »
Why fewer babies lead to even fewer babiesPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »
Fewer Americans file for jobless claims, but continuing claims rise for 8th straight weekThe number of Americans applying for unemployment benefits fell last week as layoffs remain at healthy levels despite elevated interest rates and inflation.
Read more »
Fewer Americans file for jobless claims, but continuing claims rise for 8th straight weekThe number of Americans applying for unemployment benefits fell last week as layoffs remain at healthy levels despite elevated interest rates and inflation. The Labor Department reported Thursday that jobless claims for the week ending June 22 fell by 6,000 to 233,000 from 239,000 the previous week.
Read more »