Jobless Claims Hit 5-Month Low as Economy Shows Resilience Despite Rate Hikes
• Weekly jobless claims fell to 187,000, the lowest level since September 2022, suggesting job growth remained solid in January
• Decline in claims adds to strong retail sales growth in December, painting upbeat economic picture
• Could make it difficult for Fed to start cutting interest rates in March as expected
• Single-family housing starts dropped 8.6% in December but permits rose 1.7% to highest since May 2022
• Inventory shortage combining with high mortgage rates weighing on existing home sales, but new construction demand rising