Initial jobless claims unexpectedly declined, and the unemployment rate may remain high in December

According to Odaily, the number of initial jobless claims in the United States unexpectedly declined last week, but due to sluggish employment, the unemployment rate in December may remain high. The U.S. Department of Labor announced on Wednesday that for the week ending December 20, the seasonally adjusted number of initial jobless claims decreased by 10,000 to 214,000. Economists surveyed by Reuters had previously expected initial jobless claims to be 224,000. Recent data has fluctuated due to challenges in seasonal adjustments ahead of the holiday season. The labor market remains in what economists and policymakers call a "no hiring, no firing" mode. Although the U.S. economy remains resilient, the labor market has nearly stagnated. For the week ending December 13, the number of continuing jobless claims increased by 38,000, seasonally adjusted to 1.923 million. This rise is consistent with a survey released Tuesday by the Conference Board, which showed that consumers' views on the labor market this month deteriorated to levels not seen since early 2021. The unemployment rate rose to a four-year high of 4.6% in November, although part of this was due to technical factors related to the government shutdown. (Golden Ten Data)