Unemployment claims drop to lowest level since March
Most U.S. workers continue to have strong job security based on unemployment claims falling to their lowest level since March. There were 211,000 new claims filed last week, a decrease of 9,000. Additionally, the number of people receiving unemployment benefits fell by 52,000 to 1.84 million, the lowest level since September. Despite a cooling job market and a decrease in job creation from previous years, these numbers indicate resilience in the labor market.
Employers added an average of 180,000 jobs per month in 2024, down from higher rates in 2021-2023, but still solid. The unemployment rate remains relatively low at 4.2%, though higher than the 3.4% recorded in 2023.
In response to inflation, the Federal Reserve raised interest rates aggressively in 2022 and 2023, which helped reduce inflation from 9.1% in mid-2022 to 2.7% in November. However, inflation progress has stalled, and the Fed is being more cautious about future rate cuts, projecting only two in 2025.
Read more: Associated Press
The article presented here is intended to inform you about the broader media perspective on dentistry, regardless of its alignment with the ADA's stance. It is important to note that publication of an article does not imply the ADA's endorsement, agreement, or promotion of its content.