Posted 12/21/2023, 1:36:09 PM
Job Market Stays Strong as Inflation Cools and Fed Rate Hikes Moderate
- Weekly jobless claims rose slightly but remain at historically low levels, indicating a still-strong job market
- Inflation has eased from a 40-year high of 9.1% in June to 3.1% currently
- The Fed has raised interest rates 11 times since March 2022 to combat inflation
- The job market and economy have proven resilient despite rate hikes, with unemployment staying below 4% for 22 straight months
- There are hopes the Fed can tame inflation without causing a recession due to decelerating inflation and low unemployment