The number of Americans filing initial jobless claims rose modestly last week, indicating that the labor market remains on solid footing. In recent days, Elon Musk's Department of Government Efficiency has laid off thousands of federal employees. The claims for unemployment benefits for these laid-offs were filed separately under the Federal Employees' Unemployment Compensation (UCFE) program, with a one-week delay in data reporting. The White House wants to cut about 2.30 million federal govern...
The number of first-time U.S. jobless claims fell unexpectedly last week, suggesting that nonfarm payroll growth could rebound in November after a sudden slowdown last month due to hurricanes and strikes, while the November nonfarm payrolls report could determine whether the Federal Reserve cuts interest rates again in December. The Labor Department said Thursday that initial seasonally adjusted claims for state unemployment benefits fell by 6,000 to 213,000 in the week ending Nov. 16. The data ...