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US Weekly Jobless Claims Rise Slightly as Labor Market Stays on Solid Ground
Friday, January 24, 2025       05:37 WIB

Reuters - The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting no deterioration in labor market conditions and reinforcing expectations that the Federal Reserve would not cut interest rates next week.
Though layoffs are still low, new opportunities for workers who lose their jobs are dwindling as employers remain cautious about increasing headcount. The report from the Labor Department on Thursday showed jobless rolls swelling to the highest level in just over three years in early January.
Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 223,000 for the week ended Jan. 18. Economists polled by Reuters had forecast 220,000 claims for the latest week. Claims were likely lifted by the wildfire in Los Angeles, with unadjusted applications increasing in California, but falling in the majority of states.
Freezing temperatures that have gripped large parts of the country as a well as blizzards in the South could temporarily boost claims in the weeks ahead. But through the distortions, the labor market will likely continue chugging along, keeping the economic expansion on track.
Unadjusted claims plunged 68,135 to 284,222 last week as a 6,744 jump in filings in California was more than offset by a 9,025 drop in Michigan. Applications in Michigan had surged by 14,985 in the prior week, blamed on layoffs in manufacturing.
Big declines in unadjusted claims were also reported in Texas, Ohio, Georgia, New York, Missouri, Illinois, Pennsylvania, South Carolina, Kentucky, Iowa and Connecticut.

Sumber : Reuters

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