US news
fromFast Company
1 day agoWeekly claims for unemployment benefits drop
Initial jobless claims fell to 216,000, signaling layoffs remain low while announced large-company cuts may not yet appear in claims data.
With government data releases halted by the shutdown, markets turned to private indicators for clues about the economy's health. Payroll provider ADP reported a surprising 32,000 job losses in September-far below expectations for job gains-fuelling expectations for Fed rate cuts. However, several Fed officials maintained a cautious tone. Chicago Fed President Austan Goolsbee warned of persistent services inflation, while Dallas Fed's Lorie Logan suggested a slower path to policy normalization.