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US initial jobless claims drop, indicating labor market resilience.

2026-07-01 20:14:37

Abstract generation in progress

ME News, May 21 (UTC+8). Last week, the number of Americans applying for unemployment benefits declined, suggesting the labor market has some resilience and giving the Federal Reserve room to focus on steadily rising inflation. Data showed that, as of the week of May 16, initial jobless claims fell by 3,000 to 209,000 after seasonal adjustment. Although economists expect unemployment benefit applications to increase in the summer (due to seasonal factors), the labor market remains stalled for now. Financial markets currently expect the Federal Reserve to keep its benchmark overnight interest rate in the range of 3.50% to 3.75% until next year. (Source: Jin Shi)

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