U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level. The Labor Department reported Thursday that jobless claims for the week ending July 13 rose by 20,000 to 243,000 from 223,000 the previous week.
A hiring sign is seen in Wheeling, Ill., Wednesday, July 10, 2024. On Thursday, July 18, 2024, the Labor Department reports on the number of people who applied for unemployment benefits last week. U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level that the
“The Fed asked to see more evidence of a cooling economy, and for the most part, they’ve gotten it,” said Chris Larkin, managing director of trading and investing at E-Trade. “Add today’s weekly jobless claims to the list of rate-cut-friendly data points.”Judge refuses to extend timeframe for Georgia’s new Medicaid plan, only one with work requirementFew analysts expect the Fed to cut rates at its meeting later this month, however most are betting on a cut in September.
Continuing claims have been on the rise in recent months, suggesting that some Americans receiving unemployment benefits are finding it more challenging to land jobs.
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