Unemployment in the US has been incredibly low considering the restrictive policies from the #fed and the fact that the economy has contracted for two consecutive quarters. The fed has found support in the level of unemployment to continue its #ratehikes, but recent layoff announcements, particularly in the tech sector, may be a cause of concern for them or, ironically, the fulfillment of its goal to suppress demand in order to lower inflation. As you can see in the chart below, the correlation between news regarding layoffs and jobless claims is pretty high and may put more pressure on future hikes.
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