US weekly unemployment claims unexpectedly fall 22,000 to 220,000

Quick Summary:

The labor market resilience, mostly reflecting historic low layoffs, has been driving the economic expansion through strong consumer spending.

It projected only two rate cuts next year, down from the four it had forecast in September, citing continued economic resilience and still-elevated inflation.

The claims data covered the week during which the government surveyed businesses for the nonfarm payrolls component of December's employment report.

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Article Details

Category: BusinessFinance

Markets: IndiaChina

Topics: US weekly jobless claims US jobless claims US unemployment rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 21:59:53 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 541 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24553855

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Official Website: business-standard.com

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