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 Fed's Kashkari Opens Door to September Rate Cut Debate READ MORE China's Economic Woes Deepen as Deflation Takes Hold READ MORE Gold Rally Continues nearing $2,500 with Traders Betting on Fed Rate Reductions READ MORE "Russian and Chinese are brothers forever" – Putin and Xi Challenge Western Dominance READ MORE Consumer Confidence Edges Up in July, but Economic Concerns Persist READ MORE Add a Comment Cancel replyYour email address will not be published.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