U.S. Initial Claims Rise Last Week, Another Fed Rate Cut Becomes Less Likely in Coming Months

January 16, according to the Associated Press reported, the United States last week, the number of initial jobless claims rose, but layoffs are still at historic lows, the job market is generally healthy. The U.S. Department of Labor announced Thursday that initial jobless claims rose by 14,000 to 217,000 in the week ending January 11th. Weekly jobless claims are considered an indicator of layoffs. Despite some signs of labor market weakness in 2024, jobs remain plentiful and layoffs are at historically low levels. Last week, the U.S. Department of Labor's Nonfarm Payrolls report said that job growth soared in December and the unemployment rate fell. Employers added 256,000 jobs last month, and the unemployment rate fell to 4.1%.The final jobs report for 2024 emphasizes that the economy and hiring are capable of growing at a solid pace, even with interest rates much higher than they were before the epidemic. As a result, after three rate cuts at the end of 2024, the Fed is much less likely to cut rates again in the coming months. (GOLDEN TEN)