From Quiver Quantitative LLC:



The U.S. job market is showing resilience with only a slight increase in weekly jobless claims, indicating ongoing strength and averting a recession. December’s consumer confidence survey also shows high perception of job availability. The nonfarm payroll report for December supports the idea of a solid labor market, with slight decline in claims and November’s job growth showing improvement. Despite the slight revision in third-quarter GDP growth, the economy continues to expand, with forecasts suggesting enough growth to prevent a recession. Continuing claims have also shown a marginal decrease, offering a positive outlook on employment trends. Overall, the labor market remains strong, and the economy continues to grow, although there are some headwinds building for 2024. The Federal Reserve’s decision to maintain interest rates signifies a pause in aggressive monetary policy tightening. The future rate path will depend on the balance between inflation and potential growth slowdown.



Original: US Job Market Shows Resilience with Slight Increase in Weekly Claims