US weekly jobless claims decline to 208K as layoffs remain subdued
A stronger-than-expected labor market reading complicates the case for Fed rate cuts, adding pressure to risk assets including crypto
Applications for US unemployment benefits dropped more than expected last week, with initial claims falling to 208,000 from a revised 216,000, according to data released Thursday by the US Department of Labor.
The four-week average also declined, while continuing claims eased to about 1.8 million. The data suggests employers are largely retaining workers despite broader economic uncertainty, reinforcing signs of a healthy labor market.
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