The number of people seeking unemployment benefits rose only slightly last week — a sign the labor market remains strong despite the Federal Reserve's efforts to cool the economy.
So far, the level of jobless claims remains quite low, evidence that Americans are enjoying a high degree of job security. In the coming weeks, thousands of workers with temporary jobs during the winter holidays will lose work and apply for jobless aid. The government seeks to seasonally adjust the data to account for those job losses, but the adjustments are not always perfect and the layoff of temporary workers could distort the data.
So far, the interest rate increases have pushed mortgage rates above 6%, essentially double what they were before the Fed began tightening credit. Higher mortgage rates have hammered the housing market, with sales of existing homes falling for 10 straight months.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID hospitalizations dip slightly in LA County Wednesday, 2,138 cases reportedAbout 150 hospital patients were being treated in intensive care, down slightly from 153 on Saturday.
Read more »
Applications for US unemployment aid rose slightly last weekThe number of people seeking unemployment benefits rose modestly last week, the latest sign that the labor market remains strong. Applications for unemployment aid for the week ending Dec. 24 climbed 9,000 to 225,000, the Labor Department reported.
Read more »
Poll: Texas 'wrong track' rating reaches lowest level since February, after dismal summer'Widespread discontent of the last year maybe has plateaued and is relenting slightly,'...
Read more »
Fewer Texans now think the state and country are on the 'wrong track,' new poll shows'Widespread discontent of the last year maybe has plateaued and is relenting slightly,'...
Read more »
Cost of goods keeps rising, with major rewards programs following suitDespite the price hikes, Americans appear unwilling to make major cutbacks on discretionary spending, for now.
Read more »
USD to lose altitude broadly as the end of Fed rate hikes come into view – BMOAfter sprinting nearly 20% in the year to the end of September, the US Dollar then pulled back roughly 7% in the final quarter of 2022. Economists at
Read more »