The latest data from the Labor Department indicates that the number of Americans filing new claims for unemployment benefits declined more than anticipated last week, implying a relatively tight labor market. However, some recently laid-off workers may be experiencing delays in securing new employment opportunities.
Gold prices rose on Fed rate cut hopes. Spot gold hit $2,175.68, silver at $24.71. U.S. gold futures climbed. Traders eye inflation, jobless claims, $2,300 gold levels, and June rate cut likelihood.
Gina Raimondo expressed her observations in an interview, highlighting the frustration among business leaders over the functioning of the government in such critical situations.
America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation. The unemployment rate fell to 3.5%, just above the 53-year low of 3.4% set in January. Last month’s job gain marked a moderation from the sizzling 326,000 that were added in February.