US weekly jobless claims hit seven-month low
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Initial claims for state unemployment benefits fell by 6,000 to 213,000 for the week ended Nov 16, the lowest since April; unemployment rolls increased to levels last seen in late 2021; economists estimated strikes and storms subtracted 100,000 to 125,000 jobs from payrolls in October; nonfarm payrolls increased by only 12,000 jobs in October; the Federal Reserve may consider a third interest rate cut next month; Carl Weinberg stated there is no sign of recession; the Boeing strike ended early November; the Fed cut rates by 25 basis points earlier this month, lowering the benchmark rate to 4.50%-4.75%; the data covered the period for November's employment report.
#JoblessClaims #Unemployment #FederalReserve #LaborMarket #EconomicData #BoeingStrike #Hurricanes #EmploymentReport #InterestRates #UsEconomy
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