The number of initial jobless claims in the United States for the week ending May 11 was 222,000, and the easing of labor market conditions increased the possibility of a rate cut in September

The number of initial jobless claims in the United States for the week ending May 11 was 222,000, which was expected to be 220,000 and the previous value was 231,000. The number of initial jobless claims in the United States fell last week, indicating the potential strength of the job market. The number of initial jobless claims in the United States for the week ending May 11 was 222,000. The data rose to its highest level in more than eight months last week, and the slight decline this week reversed some of the increase last week. The increase in initial jobless claims this week was largely attributed to a surge in unemployment claims in New York related to the school spring break. Although the U.S. labor market remains healthy, it is steadily rebalancing after the Federal Reserve has raised interest rates by 525 basis points since March 2022. The easing of labor market conditions and the resumption of a downward trend in inflation have increased the likelihood of a rate cut in September. (Jinshi)