The U.S. Department of Labor released its reports for employment for November 2024. According to the most recent data, unemployment claims have reached the lowest levels in six months.
However, these levels are still significantly higher than at this time last year, mostly due to natural disasters and other seasonal factors. And while layoffs remain unchanged, they are still low. Low, consistent layoff rates are keeping the economy stabilized.
Economists are still hopeful for upcoming employment growth in spite of markets that experienced hurricanes and strikes. They also predict another interest rate slash.
Nevertheless the Fed is attempting a “soft landing” which means it’s seeking to thwart inflation without triggering a recession. But consumers don’t necessarily see eye-to-eye with the experts.
A recent Newsweek survey reports just over half of voters polled see the economy headed in the wrong direction while 30% hold out hope for stronger economic conditions.