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BREAKING NEWS: US Weekly Jobless Claims: 210K

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States reported that 210,000 workers filed for new unemployment benefits during the week ending March 23, a decrease of 2,000 from the previous week's revised level. The weekly claims are consistent with an overall low level of job-cutting, despite recent high-profile layoff announcements. The unemployment rate has remained under 4 percent over the past two years, the longest such streak since the 1960s.

About 1.8 million workers continue to claim unemployment benefits. The unemployment claims data supports the contention that employers are cutting back on hiring but not laying off workers. The labor market has showed remarkable resilience despite attempts by the Federal Reserve to slow the economy through a series of interest rate hikes.

Takeaway for employers: Next week, the U.S. Bureau of Labor Statistics will release its monthly reports on job openings, employment growth and unemployment—key indicators during economic uncertainty. Weekly unemployment claims measures offer employers real-time insight into how hiring conditions continue to evolve in a dynamic labor market.
 
 
 
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