🇺🇸 WEEKLY US UNEMPLOYMENT APPLICATIONS DECLINE, BUT HIRING STILL WEAK
🔸 Initial jobless claims fell to 216,000, the lowest in 7 months → indicating that businesses are still laying off few.
🔸 However, the number of people receiving benefits increased continuously to 1.96 million, reflecting difficulty in finding new jobs, weak labor market in recruiting.
🔸 On the contrary, businesses increased equipment investment, orders for machinery and durable goods increased 0.9%, supporting GDP growth.
🔸 The US economy is showing a "mixed" picture: few layoffs but lack of hiring, so the unemployment rate may increase even though growth is still strong.
