Analysis: U.S. jobless claims rose last week, Fed less likely to cut rates in coming months

Odaily Planet Daily News The number of initial unemployment claims in the United States rose last week, but layoffs remained at a historical low, and the job market was generally healthy. The U.S. Department of Labor announced on Thursday that initial unemployment claims increased by 14,000 to 217,000 in the week ending January 11. The number of weekly unemployment claims is considered an indicator of layoffs. Although there have been some signs of labor market weakness in 2024, job opportunities remain plentiful and layoffs are at a historical low. Last week, the U.S. Department of Labor's non-farm report said that job growth soared in December and the unemployment rate fell. Last month, employers added 256,000 jobs and the unemployment rate fell to 4.1%. The final employment report for 2024 emphasized that the economy and recruitment were able to grow at a solid pace even with interest rates much higher than before the epidemic. Therefore, after three rate cuts at the end of 2024, the Federal Reserve is much less likely to cut interest rates again in the coming months. (Jinshi)