US weekly jobless claims increase more than expected
© Reuters. Signage for a job fair is seen on 5th Avenue after the release of the jobs report in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew Kelly/File PhotoWASHINGTON - The number of Americans filing new claims for unemployment benefits increased more than expected last week as labor market conditions gradually ease.
Claims had bounced around between 212,000 and 210,000 for much of March. There were 1.36 job openings for every unemployed person in February compared to 1.43 in January, government data showed this week.Though layoffs increased to a 14-month high in March, job cuts were little changed compared to the same period last year.
Fed Chair Jerome Powell reiterated on Wednesday that the U.S. central bank has time to deliberate over its first rate cut, in a nod to the economy's stamina and high inflation. The number of people receiving benefits after an initial week of aid, a proxy for hiring, dropped 19,000 to 1.791 million during the week ending March 23, the claims report showed.
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