A hiring sign seeking bus drivers stands in Palatine, Ill., Wednesday, April 19, 2023. On Thursday, the Labor Department reports on the number of people who applied for unemployment benefits last week. (AP Photo/Nam Y. Huh)
By Matt Ott
Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy.
The number of Americans filing for jobless claims for the week ending April 22 fell by 16,000 to 230,000, the Labor Department reported Thursday.
The four-week moving average of claims, which flattens some of the week-to-week volatility, fell by 6,000 to 236,000. At the start of the year, weekly claims were running around 200,000 and they have gradually moved higher.
The weekly claims numbers are a proxy for layoffs, and continue to show that American workers are enjoying unusual job security despite rising interest rates, economic uncertainty and fears of a looming recession.
Overall, 1.86 million people were collecting unemployment benefits the week that ended April 15, 3,000 fewer than the previous week.
The Fed chair seems pleased with how far inflation has fallen, but according to this analyst, we could be waiting until 2025 to hit that crucial 2% goal.
While the Fed has made it clear that it won’t consider cutting rates until at least September, one analyst is expecting a whopping seven cuts in a row.
The NASDAQ’s Executive Vice President of Corporate Platforms breaks down why you’ll probably see a lot of companies going public in September and December.
