"Initial claims for state unemployment benefits for the week ended December 27 dropped unexpectedly by 16,000 to a seasonally adjusted 199,000, the lowest since the end of November, Labor Department data showed on Wednesday. Economists polled by Reuters had forecast claims would rise to 220,000. The report was published a day early because of the New Year's Day holiday."
"Though the economy remains resilient, with gross domestic product increasing at its fastest pace in two years in the third quarter, the labor market has almost stalled. Labor demand and supply have been impacted by Trump's dramatic policy shifts since he began his second presidency in January, most notably his steep import tariffs and his aggressive immigration crackdown that has limited worker supply, economists say."
Initial claims for state unemployment benefits for the week ended Dec. 27 fell unexpectedly by 16,000 to a seasonally adjusted 199,000, the lowest since late November. Economists had forecast claims would rise to 220,000. Claims have been volatile amid seasonal-adjustment challenges around the holidays. The labor market is described as in a “no hire, no fire” mode with hiring nearly stalled despite resilient GDP growth. Policy shifts — steep import tariffs and an aggressive immigration crackdown — have affected labor demand and supply. Continued claims fell by 47,000 to 1.866 million.
#initial-jobless-claims #labor-market-stagnation #seasonal-adjustment-volatility #trade-and-immigration-policy
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