U.S. unemployment claims fall to July low
Initial unemployment benefit claims in the United States decreased to 194,000 requests last week, the lowest level since July. This reflects continued weakness in layoffs despite rising energy prices and market pressures. While the data indicates a resilient labor market and a sustained decline in benefit requests, hiring remains sluggish, as most companies prefer to retain employees without significantly expanding employment. The unemployment rate has risen to 4.2%, with approximately 68,000 jobs added each month since the beginning of the year. However, employment levels remain below those recorded before the COVID-19 pandemic, amid economic uncertainty and pressures from rising energy costs.
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