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U.S. Initial Claims Fall Last Week, Easing Fears of Deteriorating Job Market

U.S. Initial Claims Fall Last Week, Easing Fears of Deteriorating Job Market

Bitget2024/09/05 12:47

U.S. initial jobless claims fell last week as layoffs remained low, which may help ease concerns that the labor market is deteriorating. Initial claims fell by 5,000 last week to a seasonally adjusted 227,000, the U.S. Labor Department said Thursday, below market expectations. Claims have hovered around the 230,000 level since falling back from an 11-month high in late July as seasonal distortions from the auto industry and Hurricane Beryl faded. Although job openings fell to their lowest in 3½ years in July, they still show no signs of deterioration in the labor market.

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