Jobless claims fall again as labor market remains hot
by Zachary Halaschak, Economics Reporter |
March 02, 2023 08:31 AM
Jobless claims have fallen for another week, once again defying expectations and showing that the labor market has remained insulated from rising interest rates.
The number of new applications for unemployment benefits fell by 2,000 to 190,000 last week, the Labor Department reported Thursday.
Falling jobless claims are a sign the labor market is remaining resilient despite the Federal Reserve’s historic effort to tighten monetary policy to slow economywide spending and drive down inflation.
The weekly jobless claims number has been closely watched over the past year, given the Federal Reserve has raised interest rates several times in the past year, including a few massive hikes, to drive down inflation, which is running at 6.4%, according to the consumer price index.
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https://www.washingtonexaminer.com/policy/economy/jobless-claims-fall-again-as-labor-market-remains-hot
