Initial jobless claims in the United States last week fell more than expected, with seasonal factors complicating the interpretation

Initial claims for unemployment benefits in the United States fell last week, but the interpretation of the employment market has become complicated due to seasonal factors such as shutdowns and restructurings by automakers. According to data from the US Department of Labor, initial claims for unemployment benefits last week were 222,000, lower than expected. However, due to the Independence Day holiday and the impact of automakers shutting down assembly plants, this data may be influenced by seasonal fluctuations. Despite the slowdown in the labor market, Federal Reserve Chairman Powell stated that the labor market is not a source of inflationary pressure. The market believes this may pave the way for the Fed to cut interest rates in September