US Unemployment Claims Rise Slightly, Inflation Eases

Despite a minor increase in jobless claims, the US job market remains robust with the Federal Reserve forecasting rate cuts next year.

US unemployment claims rose slightly last week, but remain at historically low levels.
The Federal Reserve has raised its benchmark rate 11 times since March 2022 to combat inflation.
Inflation has eased, with consumer prices up 3.1% from a year earlier, down from a four-decade high of 9.1% in June 2022.
The Fed is now forecasting that it will reverse policy and cut rates three times next year.
The unemployment rate has been below 4% for 22 straight months, the longest such streak since the 1960s.