Fed Governor Waller: If labor demand continues to decline, will start to see more unemployment
Fed Governor Waller says will start to see more unemployment if labor demand continues to decline;: view of “gradual” rate cuts “varies from person to person”; adjusting policy rates based on election results is problematic.
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The number of initial unemployment claims in the US last week fell to 197,000, one of the lowest levels since 1969.
The US labor market demonstrates resilience, as initial jobless claims for the week ending September 19 fell to 197,000, the lowest level since July and one of the lowest readings since 1969. The four-week average also declined, indicating that high interest rates have yet to trigger large-scale layoffs. However, the market shows a structural feature of "low layoffs but uneven hiring," with job-seeking and job-hopping opportunities still limited.
