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The U.S. weekly initial jobless claims have decreased, indicating a low level of layoffs.
BlockBeats News, August 14th: Last week, against the backdrop of low layoffs in the United States, the initial jobless claims saw a slight decrease. However, due to weak domestic demand, companies are reluctant to increase hiring, which may push the unemployment rate to 4.3% in August. The U.S. Department of Labor announced on Thursday that the number of initial jobless claims for the week ending August 9 decreased by 3,000 people to a seasonally adjusted 224,000. The U.S. labor market is currently showing a divergence with few layoffs and weak recruitment.
Over the past three months, the average monthly increase in jobs in the United States has been only 35,000, and domestic demand saw its slowest growth since the fourth quarter of 2022. Lou Crandall, Chief Analyst at Wrightson ICAP, stated, "In isolation, these (initial jobless claims) data would suggest that the labor market remains strong. However, we are more focused on the soft trend in employment data over the past three months, which clearly indicates a different situation." (FXStreet)
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