United States Initial Jobless Claims

Initial jobless claims in the US slumped by 9,000 from the previous week to 211,000 in the last week of 2024, contrasting sharply with the expected increase to 222,000, to mark the lowest amount of initial claims in eight months. In the previous week, outstanding unemployment claims fell by 52,000 to 1,844,000, below expectations of 1,890,000. The results aligned with the view that the US labor market remains tight in historical standards, adding leeway for the Federal Reserve to leave interest rates at higher levels should inflation continue to refrain from slowing at their desired pace.