January 29, 2023
US Jobless Claims Rise Slightly - Money Times

US Jobless Claims Rise Slightly – Money Times

Initial jobless claims rose 4,000 to 230,000 in the week ended Dec. 3, the Labor Department said Thursday.

Number of Americans who filed new applications Unemployment benefit Last week rose modestly, pointing to a still tighter and stronger job market despite rising fears of a recession.

Initial claims for unemployment benefits rose 4,000 to 230,000 in the week ended Dec. 3, the Labor Department said Thursday. Reuters🇧🇷

Orders tend to be volatile at the start of the holiday season as businesses close temporarily or hire slowly. They hit a three-month high in the week before the Thanksgiving break, but practically recouped the losses the following week.

While layoffs in the tech sector are on the rise, with Twitter🇧🇷 Amazon And target Announcing thousands of cuts jobs In November, it did not significantly change the dynamics of the labor market.

The government reported last week that 263,000 jobs were created outside the agriculture sector in November. Economists say Companies Tech companies are adjusting after heavy hiring during the Covid-19 pandemic, indicating small businesses are desperate for workers

oh Central Reserve Wants to slow down labor market to cool inflammation🇧🇷 The US Federal Reserve raised its interest rate this year by a total of 3.75 percentage points, from near zero to a range of 3.75%-4.00%.

Economists predict the central bank will continue to tighten monetary policy and raise rates higher than the 4.6% forecast recently.