Chairman Jerome Powell last week suggested a slight rise in unemployment could the central bank’s job easier.
| Applications for US unemployment insurance rose slightly and held near the highest level since November, indicating a continued easing in the labour market.
Construction workers in Manhattan. The Fed’s most delicate task is continuing to cool growth without crashing the economy.Continuing claims for state benefits climbed to 1.42 million in the week ended July 23, the highest since early April. The Fed’s most delicate task is continuing to cool growth without crashing the economy, which is already inafter two quarters of slight contraction. However, an official recession has not been called because of the strength of the labour market, among other factors.
Separate data earlier this week showed the number of job openings fell in June to a nine-month low, suggesting tightness in the labour market is easing somewhat amid growing economic pressures.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Sizzling’ US jobs data bolsters case for faster rate risesUS employers added 528,000 jobs last month, more than all estimates, the unemployment rate fell to a five-decade low of 3.5 per cent.
Read more »
Top Asian stock markets shrug off Fed, China risksIndonesian and Indian stocks are performing better than their Asian emerging-market peers, as both markets benefit from a rebound in domestic demand.
Read more »
‘Expensive feast’: At $15 million a day, Sydney’s mega rail projects hit costly speed bumps‘Expensive feast’: At $15 million a day, Sydney’s mega rail projects hit costly speed bumps | Mattonews
Read more »
Fears for safety of disabled student who must start attending 'violent' schoolThe family of a severely disabled child, who is bound for a notoriously violent rural high school, fear a bump or knock could cost him his life.
Read more »
The public has moved on past the climate warsAge readers discuss the negotiations between Labor and the Greens over the government’s emissions reduction target.
Read more »
Keir Starmer found to have breached MPs’ code of conduct over register of interestsLabour leader was late in declaring eight interests but watchdog called breaches ‘minor and/or inadvertent’
Read more »