21 September 2023
U.S. unemployment claims dropped to 201,000 for the week ended Sept. 16. However, a UAW union strike impacting auto manufacturers may soon reverse this trend. The Federal Reserve maintains current interest rates but hints at a year-end increase. Strikes at Ford, GM, and Stellantis are disrupting supply chains, leading to layoffs. The labor market remains tight, but upcoming data will clarify its status.