The number of Americans filing new jobless benefit claims unexpectedly rose last week, with initial claims increasing to 242,000. Despite job growth in November, the unemployment rate ticked up to 4.2%. The Federal Reserve may cut interest rates next week due to a slowing labor market. The number of people receiving benefits after an initial week of aid increased, indicating longer bouts of unemployment. The AI computing powers are changing the stock market, with ProPicks AI identifying winning stock portfolios in 2024.
Source: https://www.investing.com/news/economy-news/us-weekly-jobless-claims-unexpectedly-rise-3768949