US Initial Jobless Claims Ease in Sign of Resilient Labor Market

[BumRushDaShow]

Source: Bloomberg

March 21, 2024 at 8:32 AM EDT
Updated on March 21, 2024 at 8:42 AM EDT


Initial applications for US unemployment benefits held near historically low levels last week, underscoring the resilience of the labor market.

Initial claims decreased by 2,000 to 210,000 in the week ended March 16, according to Labor Department data released on Thursday. The median forecast in a Bloomberg survey of economists called for 213,000.

Continuing claims, a proxy for the number of people receiving unemployment benefits, were also little changed at 1.81 million in the week ended March 9.

Applications for unemployment insurance have remained subdued over the last year despite elevated interest rates and some signs of cooling in the labor market. And revised data released last week showed filings for benefits were even lower than initially reported. Continuing claims, for instance, have been hovering around 1.8 million this year, not climbing to 1.9 million as previously thought.

Read more: https://www.bloomberg.com/news/articles/2024-03-21/us-initial-jobless-claims-ease-in-sign-of-resilient-labor-market

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Unemployment Insurance Weekly Claims

Initial claims were 210,000 for the week ending 3/16 (-2,000).

Insured unemployment was 1,807,000 for the week ending 3/9 (+4,000).

https://dol.gov/ui/data.pdf
Unemployment Insurance Weekly Claims. DOL.gov
8:33 AM · Mar 21, 2024

[wolfie001]

1. Oil companies are raising their pump prices as we speak

Going up about 5 cents a week for the past month here in Maryland (maybe more). The fix is in.