The number of initial unemployment claims in the United States only slightly increased, employment in January may still steadily grow

News on January 23, the number of people applying for unemployment benefits in the United States slightly increased at the beginning of last week, indicating that employment may continue to grow steadily in January. The severe cold weather in most parts of the United States and the large fire in Los Angeles may increase the number of initial applicants in the next few weeks. Apart from weather factors, the job market continues to remain stable, keeping economic growth on track.

The Trump administration's crackdown on immigration, tax cuts and tariff plans could lead to inflation and have also intensified caution about monetary policy direction by Federal Reserve.

Economists say that mass deportations and restrictions on legal immigrants could hinder labor markets. It is expected that there will be no interest rate cut at next week's Federal Reserve policy meeting.