Posted 1/18/2024, 1:40:19 PM
Jobless Claims Hit Lowest Level in Over a Year as Job Market Stays Resilient
- Unemployment claims last week fell to 187,000, the lowest level since September 2022
- It's the fewest jobless claims in over a year, underscoring the resilience of the job market
- Inflation has eased in the past year but still remains above the Fed's 2% target
- The Fed raised rates aggressively in 2022 to curb inflation, but has left rates unchanged at last 3 meetings
- The economy and job market have proven surprisingly resilient, raising hopes of a Fed "soft landing" with lower inflation without a recession