Unemployment insurance claims dropped more than expected last week. The number of people filing for jobless benefits for the first time fell to 205,000, the lowest level since January.
The Fed is charged with promoting a strong economy by maintaining stable prices and maximum employment, but the latter could be a challenge with a job market that’s slowing.
Lindsay Ellis at the Wall Street Journal wrote about a trend in which “reverse recruiters” are pitching themselves to job seekers to help them find jobs.
Americans were less worried about the short-term trajectory of inflation and hiring in January, according to a survey by the Federal Reserve Bank of New York.
Initial claims for unemployment benefits fell by 16,000, to 199,000, well below what economists were expecting. It’s the second-lowest reading in the last two years.