U.S. employers slowed layoffs in December, with the fewest announced job cuts since July, although the total for all of 2023 was the highest since 2020 when the COVID-19 pandemic emerged, a report out Thursday showed.
U.S. private employers hired more workers than expected in December, pointing to persistent strength in the labor market that should continue to sustain the economy.
The number of Americans filing new claims for jobless benefits dropped to a two-month low last week, pointing to underlying labor market strength even as demand for workers is easing.
Online spending by U.S. shoppers rose 4.9% during the 2023 holiday season, an Adobe (NASDAQ:ADBE) Analytics report showed on Thursday, as intense promotions on items such as electronics and apparel, as well as deferred payment options helped fuel consumer appetite.
Most Asian stocks moved little on Friday as they steadied after a weak start to the new year, although anticipation of key U.S. payrolls data and persistent concerns over China kept investors on edge.
Oil prices edged higher on Friday after minutes from a Federal Reserve meeting suggested inflation was under control and as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to prevent escalation in the Israel-Gaza conflict.