US jobless claims fall to 198K, beating forecast of 215K, labor market continues
Key receivers
US initial jobless claims at 198k Markets rallied on the report, with the S&P 500 up 0.5% and the Nasdaq up more than 1% as labor data bolstered bets on steady federal policy.
Share this article
US initial jobless claims fell to 198K for the week, below expectations of 215K and a revised 207K.
The weekly claims figure shows the number of individuals applying for unemployment benefits for the first time. Economists say persistently low claims suggest layoffs are quiet, even as hiring slows.
Former President Trump's trade and immigration policies, including the flow of corporate investment, have restricted the demand and supply of workers, creating uncertainty about labor decisions.
Stocks opened higher on the data, with the S&P 500 up nearly 0.5% and the Nasdaq up more than 1% in early trading. The CME FedWatch Tool still shows the possibility that the Federal Reserve will leave its benchmark rate unchanged from 3.5% to 3.75% by the end of January.
