New US jobless claims slip, but people are remaining unemployed for longer

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The story "New US jobless claims slip, but people are remaining unemployed for longer" was covered 18 hours ago by The Straits Times, a news publisher based in Singapore.

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The Straits Times 18h ago

New US jobless claims slip, but people are remaining unemployed for longer - The Straits Times

Quick Summary:

Unemployment duration has been grinding up as hiring slows.

At the same time, progress on bringing the rate of inflation back to their 2 per cent target has stalled, motivating officials to adopt a wait-and-see posture regarding future adjustments to interest rates.

After concerns about the job market motivated policymakers to kick off rate cuts with an outsized half-percentage-point cut in September, data since then has given them greater confidence that the job market is cooling in an orderly fashion.