The U.S. labor market is reviving sharply. Number of claims for unemployment benefits lowest in a year and a half

The number of new claims for unemployment benefits in the United States has fallen to a 19-month low in the past week. It was even lower than analysts’ expectations. The absolute number of unemployment aid recipients came in below the level from early April last year.

In the week ending October 9, 293 thousand people applied for unemployment benefits in the United States. That’s 36 thousand fewer than the previous week and 23 thousand fewer than analysts approached by Reuters expected. This is already the second weekly decline in a row.

However, the number of benefit claims still hovers at the top of the interval between 250 and 300 thousand people, which is considered a condition consistent with the equilibrium state of the US labour market. But the absolute number of unemployment aid recipients has already come in below the 6.15 million people level that prevailed in the US at the start of last April.

It is the fitness of the US labour market that is currently a key indicator for the Federal Reserve’s monetary policy decision-making. Indeed, inflation has returned to 13-year highs in the US, and the central bank is not keen to take a rash with its policy tightening so as not to hamper the economic recovery.

 

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Billy Markus Net Worth: Why the Dogecoin Founder Didn’t Get Rich

When people think of Dogecoin, they often picture one...

Forbes: CE Industries Owner Strnad to Invest Part of His Companies into Investment Fund

Jaroslav Strnad, owner of CE Industries and Helicopter Alliance...

Coinomi Review: Is This Crypto Wallet Safe or Falling Behind?

Coinomi is one of the longest-running cryptocurrency wallets on...

crypto4me: regulated crypto service brings easy cryptocurrency purchasing within European license

crypto4me – The European cryptocurrency market has undergone significant...

What Is Volatility and Why It Drives Returns

Volatility is one of the most frequently discussed concepts...
spot_img

spot_imgspot_img