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Citi: Continued jobless claims suggest weakness in the U.S. job market
Gisela Hoxha, an economist at Citibank, wrote that the four-week moving average of U.S. unemployment benefit renewals has continued to rise recently, indicating that the labor market is weakening. The figure has been higher than this time last year, reflecting a slowdown in hiring and longer periods of time for the unemployed to seek employment. This weakness may make it harder for official employment data to show that the labor market has rebounded from the hurricane. Hoxha wrote: "If unemploym...
2024-11-07 16:02:36
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