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An easing labor market and a return to a downward trend in inflation will increase the likelihood of a rate cut in September

An easing labor market and a return to a downward trend in inflation will increase the likelihood of a rate cut in September

Bitget2024/05/16 13:25

ChainCatcher news, according to Jinshi, the number of initial jobless claims in the United States fell last week, showing the potential strength of the job market. Initial jobless claims in the United States recorded 222,000 in the week ended May 11. This week's slight decline reversed some of last week's rise, which had risen to the highest level in more than eight months.

This week's increase in claims was largely attributed to a surge in New York claims tied to school spring break. While the U.S. labor market remains healthy, it is steadily rebalancing after the Federal Reserve raised interest rates by 525 basis points since March 2022. Easing labor market conditions and a return to a downward trend in inflation have raised the possibility of a rate cut in September.

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