The numbers: The quantity of people that utilized for unemployment advantages in late February rose modestly however remained close to the bottom degree in many years, suggesting the labor market remains to be rock stable.
Jobless claims, a tough measure of layoffs, rose by 8,000 to 225,000 within the seven days ended Feb. 23, the government said Thursday. That matched the forecast of economists polled by MarketWatch.
The four-week common of latest jobless claims, in the meantime, dipped by 7,000 to 229,000 per week after hitting a 13-month excessive. The month-to-month common is considered as extra steady because it smoothens out the weekly gyrations.
The variety of folks already accumulating unemployment advantages, referred to as persevering with claims, rose by 79,000 to 1.81 million. Though they’re nonetheless fairly low, continued claims have topped 1.Eight million for the primary time since April 2018. That bears watching.
What occurred: New claims seem to have settled down within the low 200,000 vary after a spike earlier within the 12 months. The variety of folks making use of for advantages every week is considerably increased in comparison with final fall, however new claims nonetheless sit near a half-century low.
Massive image: File job openings and powerful hiring point out layoffs are prone to stay low, retaining the U.S. economic system on a gradual if considerably slower progress path in 2019. The Federal Reserve’s determination to cease elevating rates of interest can be a tailwind for the economic system.
Market response: The Dow Jones Industrial Common
and S&P 500
have been set to open decrease in Thursday trades. The 10-year Treasury yield
slipped just a few foundation factors to 2.67%.