The latest data reveals a surprising decline in jobless claims, indicating labor market stability despite hiring slowdowns, according to Goldman Sachs forecasts.
The number of initial jobless claims in the US decreased by 4,000 to 217,000, surpassing expectations and suggesting stability in the labor market. Continuing claims rose by 4,000 to 1.955 million. Goldman Sachs economist Elsie Peng predicts a decline in the monthly job growth needed to maintain unemployment rates from 90,000 to 70,000 by the end of 2025.