U.S. jobless claims fell by the most in nearly a year last week

BlockBeats news, August 8, following last week's disappointing employment report, the number of initial jobless claims in the United States last week hit the largest drop in nearly a year, which may ease some people's concerns that the labor market is cooling too quickly. Data from the U.S. Department of Labor on Thursday showed that the number of initial claims fell by 17,000 to 233,000 in the week ending August 3. States such as Michigan, Missouri and Texas, which have seen a sharp increase in the number of applicants in recent weeks, saw a decrease in the number of applicants. The decline in initial claims may help reassure the market that the labor force is only returning to its pre-epidemic trend rather than deteriorating rapidly. Last week's weaker-than-expected non-farm report led to a global market sell-off and triggered calls for the Federal Reserve to start cutting interest rates before its September meeting. Initial claims data fluctuate at this time of year due to summer vacations in schools and restructuring of auto factories. (Jinshi)