Jobless Claims Rise More Than Expected to 198,000
The number of jobless claims for the week ending March 25th was higher than expected, with 198,000 initial claims filed, an increase of 7,000 from the previous week’s estimate. Although slightly surpassing the forecast for 195,000 claims by economists, the number of claims remained below the 200,000 mark.
Despite the rise in claims, the Department of Labor confirms that the demand for labor still appears to be high, with jobless claims still considered low by historical standards. Jobless claims are a means of determining layoffs.
The widely respected four-week moving average of claims increased to 198,250, indicating that the labor market is still in a strong position. This figure has not exceeded 200,000 since mid-January and provides a reliable guide to the health of the labor market.
Continuing claims, which are reported with a one-week delay, rose by 4,000 to 1.689 million. However, this number was lower than anticipated, indicating that people who have lost their jobs may be finding new employment opportunities swiftly.
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