US weekly jobless claims total 223,000 vs 243,000 estimate

US weekly jobless claims total 223,000 vs 243,000 estimate

The week of February 25th signaled that the labor market is continuing to tighten. It was reported by the Department of the Labor that the number of people filing to receive unemployment insurance benefits fell to 223,00 compared to the initial report of 243,000. This is remarkable due to the fact that this is a 44-year-low, the lowest level since March 1973. These numbers indicate the strength of the U.S. economy right now, and that the trend is only looking upward. The unemployment rate is at 4.8% and the labor market is near full employment. The Federal Reserve meets later in March and a federal interest rate hike is extremely plausible.

 

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