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US weekly jobless claims fall as layoffs remain low
Claims fell 9,000 to 202,000, below FactSet’s forecast, as economists said layoffs remain sparse despite a softening labor market.
- On Thursday, the Labor Department reported U.S. jobless claims fell to 202,000 for the week ending March 28, declining 9,000 from the previous week's 211,000 filings.
- The American labor market appears stuck in what economists call a "low-hire, low-fire" state, with layoffs remaining sparse despite a softening labor market and rising energy costs from the Iran war.
- High-Profile companies have cut jobs recently, including software maker Oracle, while Morgan Stanley, Block, UPS, and Amazon also announced workforce reductions as the Fed maintains its benchmark lending rate.
- Last month, the Labor Department reported employers unexpectedly cut 92,000 jobs in February, while revisions slashed 69,000 positions from December and January payrolls, nudging the unemployment rate to 4.4%.
- Attention now turns to Friday, when the March jobs report is scheduled for release, as analysts gauge labor market resilience against persistent inflation and ongoing Middle East conflict uncertainties.
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26 Articles
26 Articles
Jobless claims fall 9,000 as overall layoffs remain low across the economy
U.S. applications for unemployment benefits fell last week as layoffs remain sparse despite a softening labor market and rising energy costs due to the Iran war. The number of Americans applying for jobless aid for the week ending March 28 fell by 9,000 to 202,000 from the previous week’s 211,000, the Labor Department reported Thursday. That’s fewer than the 212,000 new filings analysts surveyed by the data firm FactSet were expecting and within…
·New York, United States
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The Tribune-Democrat+2 Reposted by 2 other sources
U.S. jobless aid filings fall to 202,000 as layoffs remain low despite uncertainty of Iran war
U.S. applications for unemployment benefits fell last week as layoffs remain sparse despite a softening labor market and rising energy costs due to the Iran war.
·Johnstown, United States
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Coverage Details
Total News Sources26
Leaning Left7Leaning Right4Center6Last UpdatedBias Distribution41% Left
Bias Distribution
- 41% of the sources lean Left
41% Left
L 41%
C 35%
R 24%
Factuality
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