It’s Thursday, Again
Initial unemployment claims rose slightly, rising by 11,000 to 227,000, with the 4 week moving average rising slightly.
New applications for unemployment benefits in the U.S. increased last week but held near historically low levels as employers cling to workers in a tight labor market.
Initial jobless claims, a proxy for layoffs, rose by 11,000 to a seasonally adjusted 227,000 last week, the Labor Department said Thursday. The four-week average, which smooths out volatility, increased by 500 to 231,250.
Continuing claims, a proxy for the total number of people on unemployment rolls through regular state programs, ticked up to 1.49 million for the week ended Feb. 26 from 1.47 million a week earlier. Continuing claims are reported with a one-week lag.
Given that year over year inflation rose to 7.9%, meaning that the Federal Reserve is definitely raising its federal funds rate this month, the only question is by how much.