By Arlenys Tabare
According to data published this Thursday by the Department of Labor, during the last week of April, The number of jobless claims in the United States unexpectedly rose to 10,000, reaching 200,000 in its seasonal number.
Although there was a moderate increase, unemployment claims have remained below 230,000 this year, which is a good sign amid a growing wave of layoffs, mostly by companies in the technology sector.
Additionally, the data could bolster the outlook for the labor market leading policymakers at the Federal Reserve to decide not to cut interest rates yet. Although the sector has remained tight in recent years, these recent figures still do not show signs of strong tension caused by the war in the Middle East, as has been perceived in other sectors of the economy.
In this regard, Christopher Rupkey, chief economist at FWDBONDS, commented that “Federal Reserve officials cut interest rates last year due to concerns about unemployment and a higher unemployment rate, but at this point there is no reason to consider interest rate cuts as the labor market is rock solid“, said.
Nevertheless, This decrease in unemployment claims may also be due to the fact that many unemployed people exhausted their subsidy limit, spanning 26 weeks in much of the country.
On the other hand, this week the report from the payroll processing company ADP was also published, in which it was learned that The private sector in the United States added 109,000 jobs during the month of Apriland the areas with the highest hiring were health and education; The official figures are expected to be published this Friday by the Department of Labor.
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