Data from the Department of Labor on Thursday showed that applications for unemployment benefits in the U.S. fell by 16,000 to 230,000 for the week ending April 22. Over 1.86 million people were claiming unemployment benefits that week, down 3,000 from the previous week.

While jobless claims are higher than the 200,000 submitted at the start of the year, the U.S. labor market remains strong by historic standards. 236,000 jobs were added in March, lower than the 472,000 in January and the 326,000 in February but still historically strong.

Federal Reserve officials worry that the strong labor market could put pressure on wages and in turn prices, thereby undermining the fight to control inflation. While inflation was 5% year-over-year in March, it remains higher than the Fed’s 2% annual inflation target.

The post Labor Market Remains Strong as Jobless Claims Fall appeared first on theprimarymarket.com.

The jobless claims have increased by 11,000 compared to last week’s 228,000. Also, the four-week moving average is at its highest since November 2021, coming at 240,000 after a jump of 2,250 claims.

While the latest numbers indicate that the job market might finally be slowing down, the unemployment insurance weekly claims remain at historically low levels. Most experts predict that Federal Reserve wants to see the mark of 270,000 jobless claims in order to consider its strategy of aggressive interest rate hikes successful.

The Fed has increased its interest rates nine times in the past year, with another one expected in May. However, the job market is still going strong, with the unemployment rate coming at 3.5% in March, which is just below the 53-year low of 3.4% from early 2023. Also, U.S. employers have added another 236,000 jobs, signaling that the economy still remains hot.

In its most recent projection report, the Fed revealed that it expects a 4.5% unemployment rate by the end of the year.

The post U.S. Unemployment Insurance Claims on the Rise, Highest in 15 Months appeared first on theprimarymarket.com.

Data from the Department of Labor on Thursday showed that applications for unemployment benefits in the U.S. fell by 16,000 to 230,000 for the week ending April 22. Over 1.86 million people were claiming unemployment benefits that week, down 3,000 from the previous week.

While jobless claims are higher than the 200,000 submitted at the start of the year, the U.S. labor market remains strong by historic standards. 236,000 jobs were added in March, lower than the 472,000 in January and the 326,000 in February but still historically strong.

Federal Reserve officials worry that the strong labor market could put pressure on wages and in turn prices, thereby undermining the fight to control inflation. While inflation was 5% year-over-year in March, it remains higher than the Fed’s 2% annual inflation target.

The post Labor Market Remains Strong as Jobless Claims Fall appeared first on theprimarymarket.com.

The jobless claims have increased by 11,000 compared to last week’s 228,000. Also, the four-week moving average is at its highest since November 2021, coming at 240,000 after a jump of 2,250 claims.

While the latest numbers indicate that the job market might finally be slowing down, the unemployment insurance weekly claims remain at historically low levels. Most experts predict that Federal Reserve wants to see the mark of 270,000 jobless claims in order to consider its strategy of aggressive interest rate hikes successful.

The Fed has increased its interest rates nine times in the past year, with another one expected in May. However, the job market is still going strong, with the unemployment rate coming at 3.5% in March, which is just below the 53-year low of 3.4% from early 2023. Also, U.S. employers have added another 236,000 jobs, signaling that the economy still remains hot.

In its most recent projection report, the Fed revealed that it expects a 4.5% unemployment rate by the end of the year.

The post U.S. Unemployment Insurance Claims on the Rise, Highest in 15 Months appeared first on theprimarymarket.com.