Weekly jobless claims total 229,000, vs 225,000 expected
The number of Americans filing applications for unemployment benefits increased more than expected last week, suggesting the labor market was slowing, but probably not to the extent implied by a near-stall in job growth in February.
Economists polled by Reuters had forecast claims rising to 225,000 in the latest week. Claims have been hovering in the middle of their 200,000-253,000 range this year. The labor market is slowing as workers become more scarce. Hiring is also being constrained by a weakening economy as stimulus from a $1.5 trillion tax cut diminishes. Washington's trade war with Beijing, slowing demand overseas and uncertainty over Britain's exit from the European Union are also hurting economic activity.
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