The U.S. labor market shows resilience, with initial jobless claims only seeing a slight uptick.

1 hours ago

U.S. initial jobless claims remained roughly flat last week, marking the third consecutive week they came in below 200,000, highlighting the labor market's resilience. Data released by the U.S. Department of Labor on Thursday showed that for the week ending August 1, initial jobless claims edged up to 199,000, pushing the four-week moving average to its lowest level since September 2022. Meanwhile, continuing jobless claims rose to 1.8 million last week, in line with expectations. Economists forecast that the July non-farm payrolls report, set to be released on Friday, will show healthy employment growth, as consumer spending continues to underpin economic activity. (Source: Jinshi)

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