Jobless Claims Fall To 218K, Below Forecasts, Fed Balances Growth Outlook And Future Rate Cuts

Benzinga

U.S. jobless claims fell to 218,000, below expectations, easing labor market worries after the Fed’s recent rate cut. Continuing claims dropped to 1.92M as companies hold onto workers despite slower hiring.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02U.S. jobless claims dropped to 218,000 for the weekend in September 20th,

00:06well below the Dow Jones estimate of 235,000, the Labor Department reported Thursday.

00:11That marked a decline of 14,000 from the prior week's revised figure,

00:14with continuing claims slimming to 1.92 million, according to CNBC.

00:18Data eased concerns about labor market weakness that influenced the Federal Reserve's

00:22September 17th rate cut, its first in 2025.

00:25Despite slower payroll growth and fewer job openings,

00:28companies remain reluctant to cut workers.

00:30Markets still anticipate the Fed will deliver two more rate cuts this year,

00:33though Chair Jerome Powell noted policy remains modestly restrictive.

00:37For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended