Last week in the United States, the number of locals applying for jobless benefits decreased to the lowest level in the current month.
The mentioned dynamic is a process that corresponds to a cooling in the US labor market, which still remains healthy.
On Thursday, December 26, the United States Labor Department released information according to which initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 219,000 for the week ended December 21. At the same time, economists interviewed by the media predicted that 224,000 claims would be recorded for the mentioned period.
The number of people receiving benefits after an initial week of aid, a proxy for hiring, rose 46,000 to a seasonally adjusted 1.910 million for the week ending December 14. It is worth noting that this indicator is the highest since November 2021. Economists interviewed by the media predicted that the level of continued claims would be 1,880 million.
Stocks remained lower in early US trading, as data on jobless claims did not have a significant impact on the markets in what is expected to be a quiet post-holiday session.
Andrew Brenner at NatAlliance Securities stated that employment claims have too much noise to spark a move. According to this expert, the direction for now in bonds is lower and steeper, but that could change on a dime. Moreover, Andrew Brenner stated that the Federal Reserve believes it has convinced the markets that the recalibration phase is over, and that the number of rate cuts next year will be minimal.
As we have reported earlier, US Wholesale Inflation Demonstrates Acceleration.
