PT Solid Gold Berjangka | US weekly jobless claims increase slightly
Ekonomi AS US Jobless Claims Solid Gold Berjangka, SG Berjangka, Solid Group
Solid Gold Berjangka | The provided information is a news report on the U.S. labor market, based on data from the Labor Department and other sources. Here’s a summary of the key points:
- Unemployment Claims: The number of Americans filing new claims for unemployment benefits increased by 1,000 to a seasonally adjusted 220,000 for the week ended December 2. Economists had expected 222,000 claims.
- Labor Market Trends: The labor market is gradually slowing down amid cooling demand. The government reported a ratio of 1.34 job openings for every unemployed person in October, the lowest since August 2021.
- Job Cuts: U.S.-based employers announced 45,510 job cuts in November, up 24% from October. However, planned layoffs dropped 41% compared to the same period last year.
- Interest Rates and Federal Reserve: Demand for labor is cooling due to higher interest rates. Financial markets anticipate a rate cut as early as the first quarter, based on the belief that the Federal Reserve is likely done hiking rates in the current cycle.
- Federal Reserve Actions: The Federal Reserve is expected to leave rates unchanged in the upcoming meeting. Since March 2022, the Fed has raised its policy rate by 525 basis points to the current 5.25%-5.50% range.
- Continuing Claims: The number of people receiving benefits after an initial week of aid, considered a proxy for hiring, dropped by 64,000 to 1.861 million during the week ending November 25. Continuing claims have mostly increased since mid-September.
- Seasonal Distortions: Economists at Goldman Sachs estimate that seasonal distortions, especially after an unprecedented surge in filings for benefits during the early COVID-19 pandemic, have contributed to the increase in continuing claims.
- Impact on Employment Report: The claims data do not impact November’s employment report, as they fall outside the survey period. Nonfarm payrolls are estimated to have increased by 180,000 jobs in November, with the unemployment rate forecast to remain unchanged at 3.9%.
The information suggests a complex economic landscape with a slowing labor market, concerns about seasonal distortions, and market expectations regarding Federal Reserve actions.