Jobless Claims Edge Up But Labor Market Stays Strong as Economy Slows
• Weekly jobless claims rose slightly to 205,000 but remain low, indicating labor market strength • Third quarter GDP growth was trimmed to 4.9% from 5.2% but still fastest pace since Q4 2021 • Labor market strength fueling consumer spending and keeping economy afloat • Growth expected to slow in Q4 but remain enough to avoid recession • Retail sales and housing starts unexpectedly rose in November