analysis: The decrease in US initial jobless claims indicates resilience in the labor market

Odaily Planet Daily News The number of Americans filing for unemployment benefits last week decreased, indicating a certain level of resilience in the labor market and providing the Federal Reserve with room to focus on addressing rising inflation. Data shows that for the week ending May 16, the number of initial jobless claims fell by 3,000 to a seasonally adjusted 209,000.

Although economists expect summer jobless claims to increase due to seasonal factors, the labor market currently remains in a state of stagnation. Financial markets currently expect the Federal Reserve to maintain the benchmark overnight interest rate in the range of 3.50% to 3.75% until next year. (Jin Shi)