The number of Americans filing for unemployment benefits rose to a six-month high last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and major stock market selloff.
The number of Americans filing for jobless benefits fell last week and layoffs in December were the smallest in 15-1/2 years, pointing to a firmer labor market even as economic growth appears to have slowed sharply in the fourth quarter.
The number of Americans filing for unemployment benefits last week fell from a five-month high, suggesting sustained labor market healing that could lead to further Federal Reserve interest rate hikes next year.
The number of Americans filing for unemployment benefits rose to a five-month high last week, but likely does not signal a deterioration in the labor market as the underlying trend remained consistent with tightening conditions.
Nowadays many of us don’t what to make of the numbers or what to believe anymore. There certainly is a school of thought the market didn’t rally because they now believe the Fed will raise rates in December.