On the insured unemployment front, the rate increased by 0.1 percentage points to 1.3% for the week ending December 14. Total insured unemployment claims climbed by 46,000 to 1,910,000 – the highest since November 2021. This rise indicates more individuals are staying on unemployment rolls, hinting at a slowdown in hiring or challenges in job transitions.
Unadjusted figures revealed a sharper increase in initial claims, with claims rising by 22,663 to 274,734. This 9% increase was slightly below the anticipated 9.3%, reflecting that while layoffs increased, they were in line with seasonal expectations. Compared to the same period in 2023, unadjusted claims showed minimal change, reinforcing steady year-over-year employment conditions.
How Does This Affect Market Sentiment?
Traders and market participants may view the data as a mixed signal. The modest decline in initial claims supports the view that layoffs remain…
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