The job market shows signs of resilience as U.S. initial jobless claims decline for five consecutive weeks, hitting a three-month low
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The number of initial jobless claims in the United States has declined for the fifth consecutive week, reaching the lowest level since mid-April, indicating resilience in the labor market. According to data from the U.S. Department of Labor, for the week ending July 12, initial jobless claims fell by 7,000 to 221,000, lower than the economists' forecast of 233,000. The number of continuing jobless claims remains high, indicating that unemployed individuals still face difficulties in reemployment. The four-week moving average dropped to 229,500, the lowest since early May. Some large companies have announced layoff plans
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