(Bloomberg) -- Initial applications for US unemployment benefits fell last week by the most in nearly a year, potentially alleviating some concerns that the ...
-- Initial applications for US unemployment benefits fell last week by the most in nearly a year, potentially alleviating some concerns that the labor market is cooling too fast following last week’s disappointing jobs report .The 5 Coastal States That Face the Most Devastating Flood Risk
That contributed to a global market selloff and prompted calls for the Federal Reserve to start lowering interest rates before its next scheduled policy meeting in September — which economists say would be highly unlikely. Instead, several expect a 50-basis-point rate cut next month as opposed to the typical 25, though officials are likely to push back on such a move.
Other figures support that notion, given still-elevated job openings and few layoffs — though some high-profile companies like Dell Technologies Inc. and Intel Corp. have let workers go recently. Initial claims, before adjustment for seasonal factors, dropped by around 13,600 to 203,054, the lowest since May. Claims in Texas have subsided recently after spiking when Hurricane Beryl made landfall in early July, but the effects of Hurricane Debby on the Southeast may surface in next week’s data.Airlines in the U.S. are experiencing a summer travel boom and expect to ferry 271 million passengers during the season, a 6.
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