Page 5 - Stuart Hoffman News Today

Reports suggested economy ended 2022 on solid footing, despite layoffs in tech and finance, indicating more rate rises.

The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, pointing to a still-tight labor market that could force the Federal Reserve to keep hiking interest rates.

By Lucia Mutikani

The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, pointing to a still-tight labor market that could force the

The number of new applications for unemployment benefits rose by 7,000 to 225,000 last week, a discouraging sign for the economy, the Labor Department reported Thursday.

Another week, another round of perplexing signals about the health of the U.S. economy.

Americans filed more jobless claims last week than before, a sign that the labor market is changing from the conditions seen in the early months of 2022.

Initial claims for unemployment insurance were expected to total 260,000 for the week ended July 30, according to Dow Jones estimates.

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The resilience of the job market is particularly striking when set against the backdrop of galloping price increases, rising borrowing costs and fear that the...