US LABOR MARKET RESILIENT
NEWS Desk Global
The number of Americans filing new claims for unemployment benefits rose slightly last week, while layoffs dropped to an 11-month low in July as labor market conditions remain tight. The labor market has largely weathered 525 basis points in interest rate hikes from the Federal Reserve since March 2022, and likely delivered another month of strong employment gains in July. Despite labor market tightness, the inflation outlook continues to improve.
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