US Jobless Claims Hit 11-Month Low as Labor Market Shows Resilience
A drop in unemployment claims and steady job openings suggest a stable labor market, while hiring slows and inflation remains a challenge for the Federal Reserve.
- Initial unemployment claims fell to 201,000 last week, the lowest level since February 2024, signaling low layoffs and labor market stability.
- Job openings rose to 8.1 million in November, with 1.13 vacancies per unemployed person, reflecting sustained demand for workers despite hiring slowdowns.
- The Federal Reserve is expected to maintain a cautious approach to rate cuts, citing progress on inflation and a desire to avoid weakening the labor market.
- Hiring declined in December, with private payrolls growing by 122,000 jobs compared to 146,000 in November, and continuing claims for unemployment benefits rising slightly.
- Economic uncertainty persists as businesses await clarity on policies from President-elect Donald Trump's incoming administration, including potential tariffs and tax changes.
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