Posted 11/22/2023, 2:57:00 PM
Jobs Report Shows Resilient Market Despite Rising Rates
- U.S. jobless claims dropped sharply last week to 209,000, signaling a resilient job market despite higher interest rates
- The 4-week moving average fell to 220,000 claims, showing little volatility recently
- 1.84 million Americans were receiving unemployment benefits as of mid-November, down 22,000
- Job growth remains strong although hiring has slowed from 2021-2022's breakneck pace
- Inflation has decelerated markedly, raising hopes of a "soft landing" where inflation is controlled without triggering a recession