U.S. Jobless Claims Fall to 206,000 as Fed Weighs Higher Rates
Updated
Updated · The Associated Press · Aug 22
U.S. Jobless Claims Fall to 206,000 as Fed Weighs Higher Rates
3 articles · Updated · The Associated Press · Aug 22
Summary
U.S. initial unemployment claims fell by 6,000 to 206,000 last week from a revised 212,000, signaling layoffs remain low and job security broadly intact.
The four-week average edged up to 204,000 from 199,750, but claims have stayed in a historically low 200,000-to-230,000 range for the past year.
That labor-market resilience comes as Fed minutes showed many officials could support rate hikes in coming months if inflation does not cool further.
Mortgage rates eased for a second straight week to 6.65% for a 30-year loan, yet remain above last year's 6.58% and continue to weigh on homebuying.
Wall Street investors now largely expect the Fed to hold rates steady in September, with a possible increase in December if inflation pressures persist.