U.S. jobless claims were roughly stable last week, but economists worry about potential weakness

On July 31, the U.S. Department of Labor announced on Thursday that initial unemployment claims remained stable last week, which was reassuring. In the week ending July 26, initial unemployment claims were 218,000, compared to 217,000 the previous week. Continuing unemployment claims were 1.95 million, unchanged from the previous week. Last night, the Federal Reserve maintained interest rates unchanged for the fifth consecutive meeting, and Fed Chair Powell said at the press conference that the stable job market indicates no urgency to shift to a more accommodative monetary policy through rate cuts. However, some economists are concerned that job market weakness is hidden beneath a strong appearance. Despite the low unemployment rate, many workers report spending a long time job hunting and finding it difficult to secure opportunities. (Jinshi)