U.S. jobless claims rose last week
U.S. initial jobless claims increased last week, but still indicates that the labor market gradually cooling trend remains unchanged. Initial jobless claims rose by 4,000 to 232,000 in the week ended Aug. 17, compared with market expectations of 230,000, data showed Thursday. The latest data should continue to ease concerns that the labor market is deteriorating rapidly, a concern that first emerged after job growth slowed sharply in July. Fed officials have said they are watching the labor market closely and are aware that waiting too long to cut interest rates could cause serious damage to the economy. Jobless claims renewals rose by 4,000 to 1.863 million in the week ended Aug. 10th.
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