U.S. applications for jobless benefits rose last week but remain at historically low levels despite efforts by the Federal Reserve to cool the economy and the job market in its fight against inflation.
What You Need To Know
- U.S. applications for jobless benefits rose last week but remain at historically low levels despite the Federal Reserve's efforts to cool the economy and job market in its fight against inflation
- Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from the previous week, the Labor Department said Thursday
- The four-week moving average of claims, which evens out some of the week-to-week fluctuations, rose by 2,000 to 198,250, remaining below the 200,000 threshold for the tenth straight week
- Applications for unemployment benefits are broadly seen reflective of the number of layoffs in the U.S.
Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from the previous week, the Labor Department said Thursday.
The four-week moving average of claims, which evens out some of the week-to-week fluctuations, rose by 2,000 to 198,250, remaining below the 200,000 threshold for the tenth straight week.
Applications for unemployment benefits are broadly seen reflective of the number of layoffs in the U.S.
About 1.69 million people were receiving jobless aid the week that ended March 18, an increase of 4,000 from the week before. That number is close to pre-pandemic levels.