The U.S. Department of Labor announced on the 28th (local time) that the number of new unemployment insurance claims for the week of March 17-23 decreased by 2,000 from the previous week to 210,000.
This figure falls short of the expert forecast of 214,000 claims compiled by The Wall Street Journal (WSJ).
The number of new unemployment insurance claims had been declining since July of last year but has fluctuated around the 200,000 mark since mid-September last year.
The number of continuing unemployment insurance claims, which are filed by those claiming benefits for at least two weeks, increased by 24,000 to 1,819,000 for the week of March 10-16 compared to the previous week. This indicates that fewer existing unemployed individuals have found new jobs.
Earlier, on the 20th, the U.S. Federal Reserve (Fed) held the benchmark interest rate steady at 5.25-5.50% for the fifth consecutive time. The Fed is closely monitoring employment-related indicators, viewing an overheated labor market as a potential cause of entrenched inflation.
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