Current location:Global Gatherings news portal > business
US applications for jobless claims fall to lowest level in 9 weeks
Global Gatherings news portal2024-05-22 01:28:52【business】1People have gathered around
IntroductionFewer Americans applied for unemployment benefits last week as the labor market continues to hold up
Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation.
The Labor Department reported Thursday that unemployment claims for the week ending April 20 fell by 5,000 to 207,000 from 212,000 the previous week. That’s the fewest since mid-February.
The four-week average of claims, which smooths out some of the weekly up-and-downs, ticked down by 1,250 to 213,250.
Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.
The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in a bid to stifle the four-decade high inflation that took hold after the economy rebounded from the COVID-19 recession four years ago. The Fed’s intention was to loosen the labor market and slow wage growth, which it said contributed to persistently high inflation.
Address of this article:http://belarus.gigirondeau.com/html-01d899127.html
Very good!(28)
Related articles
- Candice Swanepoel wows in a shimmering black flared jumpsuit as she joins ab
- Nadal overpowered by Hurkacz at Italian Open in his 1st meeting with a top
- Russian offensive on Kharkiv forces some 1,700 civilians to flee
- Ukraine says Russia is trying to break through its defenses in the northeastern Kharkiv region
- Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
- Why a judge put Beach Boys' Brian Wilson under conservatorship
- Chris Gotterup closes with 4 straight birdies for a 64 and the 2nd
- Inside Charles Spencer's bitter feud with the royals over Princess Diana
- Nuggets blow 20
- Sudan’s military fends off an attack by paramilitary forces on a major Darfur city
Popular articles
Recommended
Patrick Reed withdraws from US Open qualifying and ends streak of playing the majors
They made one
Anthony Edwards reveals why he does NOT want to be compared to Michael Jordan
Giro leader Tadej Pogacar wins his third stage in the first week
Dali cargo ship is finally brought back to port
Celtic closes in on Scottish league title by beating Rangers 2
Solar storm creates light show across the world, no serious problems reported
Teresa Giudice recalls meeting Taylor Swift in VIP area at Coachella
Links
- Beijing eases restrictions on home
- Arenado drives in 3 and Gray pitches seven innings as the Cardinals beat the White Sox 3
- A sellout WNBA exhibition game? Welcome to the Caitlin Clark era
- Fulton County officials say by law they don't control Fani Willis' spending in Trump case
- Alec Bohm, Brandon Marsh lead surging Phillies to 4
- Salvador Perez hits 3
- F1 now makes 3 stops a season in the United States. Could Miami become a victim of oversaturation?
- Apple, Amgen rise; Expedia, Fortinet fall, Friday, 5/3/2024
- Barry Manilow has to book back
- Kris Kim makes cut at the Nelson. The 16