Initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 192,000.
Initial claims for state unemployment benefits fell 1,000 to a seasonally adjusted 192,000 for the week ended March 18, the Labor Department said on Thursday. Economists polled by Reuters had forecast 197,000 claims for the latest week.
With 1.9 job openings for every unemployed person in January, employers are generally reluctant to let go of workers.in California and Signature Bank in New York. Financial conditions have tightened, which could cause banks to become more strict in extending credit, potentially impacting households and small businesses, who have been the main drivers of job growth.
Fed Chair Jerome Powell told reporters that “the events of the last two weeks are likely to result in some tightening of credit conditions for households and businesses, and thereby weigh on demand on the labor market and inflation.”The claims data covered the period during which the government surveyed business establishments for the nonfarm payrolls portion of March’s employment report.
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