Americans filing fresh claims for unemployment benefits has risen more than anticipated in the latest news released today the 4th of April 2024.
According to the Labor Department's report, initial claims for state unemployment benefits climbed by 9,000 to a seasonally adjusted 221,000 for the week ending March 30. Economists surveyed by Reuters had predicted 214,000 claims for the latest week.
Throughout March, claims fluctuated within a range of 212,000 to 210,000. This week's government data revealed that there were 1.36 job openings for every unemployed person in February, down from 1.43 in January, highlighting ongoing worker shortages, particularly in sectors like construction.
Despite layoffs hitting a 14-month peak in March, job cuts remained relatively steady compared to the same period last year. The resilience of the labor market continues to underpin the economy, with gross domestic product (GDP) expanding at a robust annualized rate of 3.4% in the ...
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