The initial applications are a short-term indicator for the job market.
(Photo: dpa)
Washington The labor market in the USA developed somewhat weaker in the past week. The number of initial jobless claims rose by 9,000 to 244,000, the Labor Department said on Thursday. Experts had expected an unchanged value of 235,000 applications on average.
The initial applications are a short-term indicator for the job market. The level of aid applications has been low for a long time, indicating a robust job market.
The US Federal Reserve also takes the situation on the labor market into account in its monetary policy. At the moment, however, the focus is on inflation, and the Fed has raised interest rates significantly. A robust labor market can pose an additional risk of inflation if workers demand wage compensation for inflation.
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