Jobless Claims Plunge To 201,000, Creating Further Doubts About Rate CutsJohn Carney 22 Feb 2024
So much for the idea that January’s burst of hiring was an anomaly in an otherwise cooling labor market.
The number of people filing first-time claims for unemployment benefits fell in mid-February to 201,000, down from 213,000 in the prior week.
Economists had forecast a small increase to 216,000.
Jobless claims are a proxy for layoffs. Despite headlines about layoffs at technology and entertainment companies, claims have not risen significantly this year. The latest claims numbers are the lowest in five weeks. New claims peaked at 227,000 at the end of January and have been falling for three straight weeks.
Claims are now lower than they were at any point last year except for one week in mid-October, when they fell to 200,000.
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https://www.breitbart.com/economy/2024/02/22/jobless-claims-plunge-to-201000-creating-further-doubts-about-rate-cuts/
