The number of people applying for unemployment benefits in the U.S. fell for third straight week. Applications for jobless claims in the U.S. for the week ending February 25 fell to 190,000 from 192,000 the previous week, the Labor Department said.
A hiring sign is displayed in Arlington Heights, Ill., Sunday, Feb. 5, 2022. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week.
A hiring sign is displayed in Arlington Heights, Ill., Sunday, Feb. 5, 2022. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week. The number of people applying for unemployment benefits in the U.S. fell for third straight week. That’s good news for American workers, but potentially bad news in theby the Federal Reserve, which has been ratcheting up its benchmark interest rate for a year in an effort to cool the economy, loosen the labor market and tame inflation.
Applications for jobless claims in the U.S. for the week ending February 25 fell to 190,000 from 192,000 the previous week, the Labor Department said Thursday. It’s the seventh straight week claims were under 200,000. The four-week moving average of claims, which evens out some of the weekly volatility, rose by 1,750 to 193,000, remaining below the 200,000 threshold for the sixth straight week.In February, the Fed raised its main lending rate by 25 basis points, its eighth rate hike in less than a year. The central bank’s benchmark rate is now in a range of 4.5% to 4.75%, its highest level in 15 years.
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