Unexpectedly low jobless claims suggest a strong US labor market and potentially influence the Federal Reserve's interest rate decisions.
The number of Americans filing for first-time unemployment benefits unexpectedly edged down last week, touching the lowest level since February, in a sign of strength in the labor market. Initial jobless claims for state unemployment aid slipped to 201,000 during the week ended on January 4, down from a prior mark of 211,000, according to a report from the Labor Department on Wednesday. Economists had expected a reading of 214,000.
A raft of economic figures earlier this week pointed to an unexpected increase in job openings and sticky inflation. The readings and the jobless claims numbers -- both which come ahead of the all-important monthly US employment report later this week -- bolstered bets that the Federal Reserve will not be in a rush to roll out further possible interest rate reductions in 2025
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