Employment data is nothing to worry about and the Federal Reserve knows it. This is because solid employment is good if inflation doesn’t skyrocket. That continues to be the big bet for the Fed and the markets.
During the last week, Several significant changes were observed in unemployment figures in the United States. There was an upward revision of initial unemployment claims, going from 209 thousand to 212 thousand.
However, Current figures of 210,000 initial claims were slightly above previous estimates of 208,000.. The four-week moving average of these initial claims also saw a slight increase, reaching 211.25 thousand, compared to 208.75 thousand the previous week. The current figures of 1.807 million were below the estimate of 1.820 million.
In tune with the Federal Reserve
The four-week moving average of continuing claims also showed a marginal increase, rising to 1.802 million, up from 1.797 million the previous week.
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It is important to keep in mind that this week coincides with the survey week for the monthly employment data of the BLS (Bureau of Labor Statistics), which could provide a clearer view of the labor situation in the country.
Employment data is nothing to worry about and the Federal Reserve knows it. The question is whether it will cause inflation. A solid job is good if inflation doesn’t skyrocket. That remains the big question for the Fed and the markets.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
