US weekly jobless claims unexpectedly fall

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating that the labor market remains tight even as job growth is slowing. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 237,000 for the week ended July 8, the Labor Department said on Thursday. The Federal Reserve’s “Beige Book” report on Wednesday described demand for labor as having “remained healthy” in June with pockets of worker shortages in health care, transportation and hospitality as well as high-skilled positions.
— Read on ca.finance.yahoo.com/news/us-weekly-jobless-claims-unexpectedly-124211744.html

US applications for jobless benefits fall again as labor market continues to defy the Fed actions

The number of Americans applying for jobless benefits fell again last week as the labor market continues defy the Federal Reserve’s attempt to cool it through higher interest rates. U.S. applications for jobless claims fell by 12,000 to 237,000 for the week ending July 8, from 249,000 previous week, the Labor Department reported Thursday. The four-week moving average of claims, which smooths out some of the week-to-week ups and downs, fell by 6,750 to 246,750. Jobless claim applications are seen
— Read on ca.finance.yahoo.com/news/us-applications-jobless-benefits-fall-123956262.html

Bank of Canada Raises Interest Rates to 5%, Sees Inflation Lingering – Bloomberg

Policymakers led by Governor Tiff Macklem increased the overnight lending rate on Wednesday by 25 basis points to 5%, the highest in 22 years. The move was expected by most economists in a Bloomberg survey, and markets had put the odds at around three quarters.
— Read on www.bloomberg.com/news/articles/2023-07-12/bank-of-canada-raises-rates-to-5-sees-inflation-lingering

Bank of Canada Interest Rate Decision July 2023: 5 Key Takeaways – Bloomberg

The Bank of Canada raised its overnight lending rate by 25 basis points to 5% on Wednesday in Ottawa. The move, which was expected by a majority of economists in a Bloomberg survey, brings benchmark borrowing costs to their highest in 22 years. Here are the key takeaways:
— Read on www.bloomberg.com/news/articles/2023-07-12/bank-of-canada-raises-key-interest-rate-to-5-key-takeaways