Fewer jobless claims may be a heartening indication the U.S. economy could ultimately cruise to a “soft landing” despite recession fears.
New applications for unemployment benefits last week dropped by 6,000 to 222,000 — the lowest since June.
The numbers in a category seen as a proxy for layoffs signal the economy is still adding jobs despite Federal Reserve Chair Jerome Powell’s efforts to slow spending and rein in inflation, the Washington Examiner reported Monday.
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