U.S. Department of Labor data shows that the number of initial unemployment claims decreased last week, indicating that although the job market is cooling, the U.S. economy has avoided large-scale layoffs. The number of continuing unemployment claims reached its highest level in three years. This year, labor market data has shown mixed signals, complicating the Federal Reserve's interest rate decisions as it balances employment and inflation targets. Currently, there is about one job vacancy for every unemployed worker in the U.S., down from two workers per vacancy in mid-2022. This year, the unemployment rate has slightly fallen from 3.7% at the end of 2023 to over 4%. On the other hand, the U.S. economy has added an average of over 100,000 jobs per month this year, and the number of unemployment claims has not indicated a significant increase in layoffs. (Jinshi)