Newsweek on Nostr: U.S. Jobless Benefits Applications Now Lowest in Four Months ========== The number of ...
U.S. Jobless Benefits Applications Now Lowest in Four Months
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The number of Americans applying for unemployment benefits fell by 12,000 to 219,000 for the week ending Sept. 14, 2024; Economists had predicted claims would reach around 230,000; Jobless claims had been increasing since May, raising concerns about high interest rates affecting the job market; The Federal Reserve cut its benchmark interest rate by half a percentage point on Sept. 18, 2024, marking its first rate cut in four years; The federal funds rate had reached a two-decade high of 5.3%; Job creation slowed with only 142,000 jobs added in August and 89,000 in July; The four-week average of claims dropped by 3,500 to 227,500; Total Americans receiving unemployment benefits fell by 14,000 to 1.83 million, the lowest since early June; Inflation is nearing the Fed's target of 2%, allowing for a focus on stabilizing the labor market.
#Unemployment #JobMarket #FederalReserve #InterestRates #Economy #Inflation #LaborMarket #JoblessClaims #UsEconomy #September2024
https://www.newsweek.com/us-jobless-benefits-applications-lowest-four-months-1956403
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The number of Americans applying for unemployment benefits fell by 12,000 to 219,000 for the week ending Sept. 14, 2024; Economists had predicted claims would reach around 230,000; Jobless claims had been increasing since May, raising concerns about high interest rates affecting the job market; The Federal Reserve cut its benchmark interest rate by half a percentage point on Sept. 18, 2024, marking its first rate cut in four years; The federal funds rate had reached a two-decade high of 5.3%; Job creation slowed with only 142,000 jobs added in August and 89,000 in July; The four-week average of claims dropped by 3,500 to 227,500; Total Americans receiving unemployment benefits fell by 14,000 to 1.83 million, the lowest since early June; Inflation is nearing the Fed's target of 2%, allowing for a focus on stabilizing the labor market.
#Unemployment #JobMarket #FederalReserve #InterestRates #Economy #Inflation #LaborMarket #JoblessClaims #UsEconomy #September2024
https://www.newsweek.com/us-jobless-benefits-applications-lowest-four-months-1956403