New weekly jobless claims fell below 198,000—well under expectations—while continuing claims also declined, signaling that layoffs remain low and employers are holding on to workers. At the same time, hiring is slowing, raising fresh questions about business confidence and the broader economic outlook, including what this steady-but-cautious labor market means for interest rates. We discuss whether this qualifies as a “good jobs report,” what it says about employer sentiment, and whether it gives the Federal Reserve room to keep rates higher for longer with Patrick Mueller, President of Bella Advisors.
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