Signs of a weakening labor market? The number of continuing jobless claims in the United States rose to a new high since the end of 2021

The US labor market is showing signs of weakness, with the number of continued jobless claims rising to a new high since the end of 2021. It is taking longer for the unemployed to find work, and US companies are significantly slowing down their hiring, leading to an increase in the unemployment rate. Economists and Federal Reserve policymakers are closely monitoring signs of a continued softening in the labor market. Goldman Sachs' chief economist predicts that the labor market may be approaching a potential "turning point," with the unemployment rate likely to rise. Morgan Stanley's chief investment officer warns that how the US labor market evolves will determine the "success or failure" of the US stock market, which could decline by 10%