The number of people seeking unemployment benefits in the U.S. reached a four-month low last week, a sign that employers are holding on to their workers despite the Federal Reserve’s efforts to slow the economy and tamp down inflation.
U.S. jobless aid applications for the week ending Jan. 14 fell by 15,000 to 190,000, from 205,000 the week before, the Labor Department said Thursday.
Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.last year in a bid to slow job growth and bring down stubbornly high inflation.in December, evidence that the economy remains healthy even as the Fed is rapidly raising interest rates to try to slow economic growth and the pace of hiring. The unemployment rate fell to 3.5%, matching a 53-year low.
In forecasts updated last month, the Fed’s policymakers predicted slower growth and higher unemployment for next year and 2024. The unemployment rate is projected to jump to 4.6% by the end of 2023. That would mark a significant increase in joblessness and typically would reflect a recession, which many economists have predicted.
Mortgage rates are above 6%, essentially double what they were before the Fed began tightening credit. Higher mortgage rates have put the brakes on the housing market, with sales of existing homesThough the U.S. labor market remains robust, layoffs have been mounting in the technology sector, which is dealing with falling demand as inflation squeezes both businesses and families., almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OKX Publishes Proof-of-Reserves Report Showing $7.5B in ‘Clean Assets’.okx has published a new proof-of-reserves report showing it has $7.5 billion in 'clean assets' with the majority in bitcoin, ether, and USDT. thesamreynolds reports.
Read more »
Fewer Americans struggled to cover health costs during pandemic: CDC dataStory at a glance The number of Americans in families who struggled to pay medical bills decreased from 14 percent in 2019 to 10.8 percent in 2021, Centers for Disease Control and Prevention (CDC) data show. That amounts to 10.5 million fewer people struggling to pay the bills in 2021. Findings are based on National…
Read more »
OKX Releases Proof-of-Reserves Report With $7.5B 'Clean Assets'The reserves do not contain OKX's native token.
Read more »
Fewer Americans file for jobless benefits last weekU.S. applications for unemployment benefits fell last week to their lowest level in 16 weeks despite attempts by the Federal Reserve to slow the economy and bring down inflation.
Read more »
U.S. housing starts fell in 2022, as the nation builds fewer homesConstruction on new U.S. homes fell 1.4% in December, the Commerce Department said Thursday
Read more »
Fewer Americans file for jobless benefits last weekThe number of people seeking unemployment benefits in the U.S. reached a four-month low last week, a sign that employers are holding on to their workers despite the Federal Reserve’s efforts to slow the economy and tamp down inflation. U.S. jobless aid applications for the week ending Jan. 14 fell by 15,000 to 190,000, from 205,000 the week before, the Labor Department said Thursday. Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.
Read more »