In November, the US saw its highest unemployment rate since 2021, reaching 4.6%, largely attributed to federal worker reductions under President Trump. The Labor Department reported a decrease in jobless claims for the week ending on December 27, with 199,000 claims filed. However, experts caution that the data may be skewed due to year-end holidays. The weak labor market has seen hiring slow down, prompting the Federal Reserve to cut its benchmark lending rate to address concerns about the job market’s actual strength.
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