The initial claims for unemployment insurance were well below expectations last week, which helped be caution in the Federal Reserve and in other places that the labor market is in danger.
The presentations for the first time for the week that ended on September 20 totaled 218,000 seasonally adjusted, 14,000 below the figure reviewed up the previous week and significantly lower than the estimate of the consensus of Dow Jones for 235,000, the Department of Labor said Thursday.
The continuous statements, which extended for a week, were little changed, falling from 2,000 to 1,926 million.
The launch occurs only one week after the Federal Reserve voted to reduce its reference loan rate at a percentage of a range of 4%-4.25%.
In his statement after the meeting published on September 17, the Federal Open Market Committee said that part of the reasoning for flexibility, the first in 2025, was that “the downward risks for employment have increased.” In fact, the growth of non -agricultural payroll has slowed down and the level of work openings is a minimum of several years.
However, claims data, despite an increase earlier, have shown that companies are still reluctant to separate from workers, even if the hiring has decreased considerably.
The claims data can be volatile, with Texas showing large turns in recent weeks. The State registered a decrease of almost 7,000 presentations last week, according to non -adjusted figures.
Despite the concerns in increasing that the economy could be decreasing at the back of the year, economic data has remained quite solid, and other reports confirmed the underlying fortress on Thursday.
The Gross Domestic Product, the broader measure of economic growth, registered a gain of 3.8% in the second quarter, according to the last of the three estimates that the Commerce Department published on Thursday. The report reflected an unusually large percentage point upstart adjustment, which the Office of Economic Analysis attributed to a review of consumer spending.
Personal consumption expenses, which drive approximately two thirds of the US $ 30 billion economy, increased 2.5%, well above the 1.6% figure in the second estimate and better than the 0.6% rate in the first quarter.
In another sign of force, spend on long -term elements, such as airplanes, appliances and computers, increased 2.9% in August, compared to the prognosis for a 0.4% decrease and better than the July figure, which showed a 2.7% drop.
Even excluding transport, new orders increased 0.4% and increased 1.9% by excluding defense.
Fed officials are closely observing economic data to obtain clues about where policy should be taken below, and recent reports have indicated a mostly optimistic image.
The house, which has been the weakest place, has shown some signs of life lately, with sales of newly built housing that rise 20.5% in August, the greatest gain since January 2022.
Despite solid data, markets still expect the FED to reduce this year twice, at its meetings in October and December.
In a speech on Tuesday, President Jerome Powell said the economy “is showing resilience amid substantial changes in commercial policies and immigration, as well as in fiscal, regulatory and geopolitical sand.”
Even so, he left room for additional flexibility, noting that politics remains “modestly restrictive” in growth.
