U.S. Unemployment Benefit Applications Continue To Fall

The number of Americans filing new claims for unemployment benefits continue to show a decline.

This shows sustained labor market strength and, by extension, adds to financial market fears that the Federal Reserve could keep hiking interest rates for longer.

Those worries were further heightened by another report from the Labor Department that points to a falling trend.

It showed labor costs grew much faster than previously estimated in the fourth quarter.

The US labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains.

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Edited by Jesus Chan

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