đ Labor Market Update! đ
- Initial jobless claims hit 232k last week, slightly up from 228k. Labor market cooling but not crashing.
- Continuing claims at 1.863M, highest since Nov 2021.
- Economists say labor market softening but not weak enough for big Fed rate cuts.
- Fed Chair Powell's speech at Jackson Hole on Friday could give more clues.
- Recent data shows inflation down, but labor market still key for Fed decisions.
- BLS revision: 818k fewer jobs as of March 2024 than initially reported.
What do you think? Will Powell hint at rate cuts? đŹđ #Economy #Forex #Crypto #Fed
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