U.S. Labor Market Defies Expectations with Lower than Expected Jobless Claims The U.S. labor market has hit a new milestone with initial jobless claims dropping to their lowest level since September 2022. The Labor Department’s recent report reveals that for the week ending January 13, 2024, jobless claims plummeted to 187,000, surpassing analysts’ expectations of 208,000. This decline marks a significant 16,000 reduction from the previous week and stands as a testament to the enduring strength of the labor market. Notably, this robust labor market performance continues despite the Federal Reserve’s interest rate hikes aimed at cooling the economy and easing the jobs market. Additionally, the report also highlights a surprising drop in continuing claims, which fell by 26,000, bringing the total to 1.806 million, below the expected 1.83 million. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts July Sees Record Central Bank Gold Acquisition Since January READ MORE WSJ: Interest Rates Are a Distraction; Fed's Asset Holdings Hold Real Power READ MORE Japan's ¥9.8 Trillion Currency Intervention Defended by Finance Minister READ MORE Japan Sounds the Alarm on Yen's Speculative Tumble Amidst Rising U.S. Inflation READ MORE Gold Holds Steady Near $2,465 as Investors Eye CPI Report READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment