Jobless Claims Hit 50-Year Low, Showing Labor Market Resilience Despite Rate Hikes
- Jobless claims fell to lowest level since Sept 2022, dropping 16,000 to 187,000
- Marks lowest jobless claims since before the pandemic in 2019
- Continuing claims also fell to 1.8 million
- Data shows labor market remains resilient despite Fed interest rate hikes
- Experts say data means Fed unlikely to cut rates until more labor market softening