The number of initial jobless claims in the United States rose slightly last week, indicating a gradual cooling of the employment market

The number of initial jobless claims in the United States rose slightly to 232,000 last week, slightly higher than expected, indicating that the employment market is gradually cooling down. The U.S. Department of Labor revised down the previous year's non-farm payroll additions for March 2024, marking the largest decline in 15 years, signaling a slowdown in the labor market. The minutes of the Federal Reserve meeting showed that participants expressed concerns about increased risks to the employment target, while Federal Reserve Chairman Powell is expected to provide clues on the future direction of monetary policy and the labor market at the Jackson Hole Symposium