The number of Americans applying for unemployment benefits fell to their lowest level in four months last week.
2 hours agoMan stabbed multiple times after attempting to stop alleged assault of sister, SAPD saysGet ready to travel this fall with these Insider DealsFILE - A hiring sign is displayed at a retail store in Buffalo Grove, Ill., Friday, Sept. 6, 2024.
“The focus has now decisively shifted to the labor market, and there’s a sense that the Fed is trying to strike a better balance between jobs and inflation,” said Stephen Innes of SPI Asset Management. Inflation has retreated steadily, approaching the Fed’s 2% target and leading Chair Jerome Powell to declare recently that it was largely under control.
This week's Labor Department report showed that the four-week average of claims, which evens out some of weekly volatility, fell by 3,500 to 227,500.
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