The number of initial jobless claims in the United States last week slightly exceeded expectations, indicating that the labor market remains resilient
Last week, the number of initial jobless claims in the United States exceeded market expectations but remained at a level consistent with a healthy labor market. The U.S. Department of Labor announced on Thursday that for the week ending January 11, the number of initial jobless claims was 217,000, compared to an expectation of 210,000, with the previous value revised from 201,000 to 203,000. Initial jobless claims tend to fluctuate significantly at the beginning of the year, but the low layoff rate supports the job market and the overall economy. In December, non-farm payrolls increased by 256,000, and the unemployment rate fell from 4.2% in November to 4.1%. The labor market is highly resilient, inflation rates remain sticky, and the uncertainty surrounding President-elect Trump's broad imposition of tariffs and large-scale deportation of illegal immigrants has led the Federal Reserve to expect only two rate cuts this year, down from the four cuts anticipated in September last year. Trump will be sworn in next week, and he has also promised tax cuts, which will stimulate economic growth. The market expects the Federal Reserve to keep interest rates unchanged at its policy meeting on January 28-29. The next rate cut is anticipated in June. However, Bank of America believes that the easing cycle has ended. The report shows that for the week ending January 4, the seasonally adjusted number of continuing jobless claims decreased by 18,000 to 1.859 million
According to the Zhitong Finance APP, the number of initial jobless claims in the United States exceeded market expectations last week but remains at a level consistent with a healthy labor market. The U.S. Department of Labor announced on Thursday that for the week ending January 11, the number of initial jobless claims was 217,000, compared to an expectation of 210,000, with the previous value revised from 201,000 to 203,000.
Initial jobless claims tend to fluctuate significantly at the beginning of the year, but the low layoff rate supports the job market and the overall economy.
In December, non-farm payrolls increased by 256,000, and the unemployment rate fell from 4.2% in November to 4.1%.
The resilience of the labor market, persistent inflation rates, and the uncertainty surrounding President-elect Trump's broad imposition of tariffs and large-scale deportation of illegal immigrants have led the Federal Reserve to expect only two rate cuts this year, down from the four rate cuts anticipated in September last year. Trump will be sworn in next week, and he has also promised tax cuts, which will stimulate economic growth.
The market expects the Federal Reserve to keep interest rates unchanged at its policy meeting on January 28-29. The next rate cut is anticipated in June. However, Bank of America believes that the easing cycle has ended.
The report shows that for the week ending January 4, the seasonally adjusted number of continuing jobless claims decreased by 18,000 to 1.859 million