U.S. Jobless Claims Drop Amid Mixed Economic Signals

U.S. Jobless Claims Drop Amid Mixed Economic Signals
The U.S. economy is giving mixed signals, although the news of reduced jobless claims is a welcome boost to the world’s biggest economy. Jobless claims totaled209,000 in the week ended November 18, which was 24,000 less than in the previous week, according to the Labor Department.
The number of workers filing for the first time for unemployment benefits had the biggest drop in almost five months, indicating the labor market continues to show strength.
Another report from the Labor Department showed that the U.S. economy sharply reduced the pace of job creation in October and the unemployment rate rose to the highest level in almost two years. 
A separate set of data from the Commerce Department showed that orders of durable goods, like cars, airplanes, and defense equipment, fell 5.4% in October, the third drop in four months. The contraction was more pronounced than the estimate of 3.4% in a survey of economists.
What does this mean for me?
The Federal Reserve said in the minutes of its last monetary policy meeting that the impacts of high interest rates are still "uncertain." The latest set of conflicting data confirms this. 
In the same meeting, the Fed said that the current level of interest rates, the highest in 22 years, is still going to weigh on economic activity, hiring, and inflation.
The central bank started the tightening cycle in March 2022, when the rate was between 0% and 0.25%. Since then, there have been 11 increases.
Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Arincen would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Arincen and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Arincen and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Arincen may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.