US weekly jobless claims fall marginally, cooling labour markets cast shadows



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US weekly jobless claims fall marginally, cooling labour markets cast shadows

US Labour Department data released on Thursday, the 9th of January 2020, had revealed a mixed reflection of US job market, as US citizens applying for jobless claims for the first time in their lives fell more than anticipated during the week that ended on January 4th amid a fifty-year low unemployment rate, nonetheless, the US labour market seemed to be calming down compared to a month earlier.

On top of that, as the United States’ ongoing streak of a five-decade low unemployment figure had reached a record one and a half year at the end of 2019, according to US Labour Department’s Thursday’s (January 9th) data, US initial jobless claim fell by 9,000 to a seasonally adjusted figure of 214,000, beating an analysts’ forecast expecting a reading of 220,000 for the week that ended on November 4th, remarking the index’s fourth straight week of decline following an upsurge in early December, which was believed to be stemmed from a record 40-day long strikes of General Motor workers.

Nonetheless, US non-farm payroll data due on Friday (January 10th) was expected to add 164,000 jobs last month after a robust uptick of 266,000 jobs a month earlier, which had been adding to analysts’ scepticism that the US Labour market might have been cooling amid a recessed US factory activity that faltered to a decade-low figure last month.