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Your daily horoscope: January 14, 2025

  HOROSCOPES IF TODAY IS YOUR BIRTHDAY If your current way of working does not seem to be taking you closer to your goals then ditch it completely and start over. New technologies such as artificial intelligence could help you immensely this year, IF you have the intelligence to use them wisely. ARIES (March 21 - April 20): There is a lot of pressure building up in your life at the moment but that’s okay because you thrive on being challenged. When the going gets tough Aries is the first sign to get tough in return and today will be no exception. TAURUS (April 21 - May 21): You may be in two minds about what direction you should be taking but what occurs over the next 24 hours will point the way and all you have to do is follow the lead that the universe gives you. Get past your doubts and get moving. GEMINI (May 22 - June 21): If you start something new today it will take up a lot more time and energy than you expected, so think about it carefully and make sure you will be able to...
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US Weekly Jobless Claims Fall More Than Expected

 

The number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting that fears of the labor market unraveling were overblown. Initial claims for state unemployment benefits dropped by 17,000 to a seasonally adjusted 233,000 for the week ending August 3. This marks the largest drop in about 11 months.

Economists had forecasted 240,000 claims for the latest week, but the actual decline exceeded expectations. While claims have been on an upward trend since June, factors like temporary motor vehicle plant shutdowns and disruptions caused by Hurricane Beryl contributed to the volatility. Despite this, layoffs remain generally low, and government data from June indicated the lowest layoffs rate in over two years.

The slowdown in the labor market is primarily driven by less aggressive hiring, influenced by the Federal Reserve’s interest rate hikes in 2022 and 2023. However, the recent monthly nonfarm payrolls report showed a significant slowdown in job gains in July, raising concerns that the labor market may be deteriorating. The Fed is closely monitoring the situation and may consider reducing borrowing costs in their next policy meeting in September.


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