US Jobless Claims Show Slight Decline, Indicating Continued Labor Market Strength

According to the US Department of Labor (DOL), initial unemployment claims fell to 229,000 for the week ending August 23, slightly below forecasts of 230K and down from the revised 234K the previous week.

• The 4-week moving average rose 2,500 to 228,500, reflecting a minor short-term uptick.
• Continuing claims decreased by 7,000, reaching 1.954 million, with the insured unemployment rate remaining low at 1.3%.

This data highlights a stable US labor market, supporting the view of resilience in the economy even amid debates over potential Federal Reserve rate cuts.