US Jobless Claims Drop to 233,000, Indicating Low Layoffs
US initial jobless claims fell to 233K, below estimates, while the jobs report showed a stronger-than-expected increase of 147K jobs, leading to a market rally and higher US yields. The unemployment rate decreased to 4.1%, and market expectations for rate cuts have slightly adjusted. Despite rising jobless claims, the overall employment data suggests resilience in the US labor market.