Unemployment Claims Rise, Job Market in 'Low-Hire, Low-Fire' State
Update: 2025-12-12
Description
Unemployment benefits surge, Fed cuts rates amid job market concerns - Applications for unemployment benefits in the US jumped by 44,000, totaling 236,000, higher than expected. The Federal Reserve reduced its benchmark lending rate for the third time, despite a seemingly robust job market. Fed Chairman Jerome Powell fears the job market may be weaker than official data suggests, potentially shedding an average of 20,000 jobs monthly since spring. Continuing jobless claims fell to 1.84 million, the lowest since mid-April, but experts attribute this to seasonal adjustments and benefit eligibility limits. The job market remains in a low-hire, low-fire state, making it difficult for the unemployed to find new opportunities.
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