BlockBeats news, on July 24, the number of first-time applicants for unemployment benefits in the U.S. unexpectedly decreased last week, indicating stable labor market conditions, although hiring slowdowns have made it harder for many laid-off workers to find new job opportunities. Data released by the U.S. Department of Labor on Thursday showed that for the week ending July 19, initial unemployment claims decreased by 4,000 to 217,000, unexpectedly lower than expected. Since the number of initial claims rose to an eight-month high in June, this data has shown a decline.
The report also showed that for the week ending July 12, the number of continuing unemployment claims increased by 4,000 to 1.955 million, seasonally adjusted. Goldman Sachs economist Elsie Peng wrote in the report: "Looking ahead, we expect the 'stability threshold' for job growth—i.e., the monthly new jobs needed to maintain a stable unemployment rate—to gradually decline from the current estimate of 90,000 to 70,000 by the end of 2025." (Jin Shi)
