Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy.
Jobless claims fell by 18,000 to 215,000 for the week ending February 26, from 233,000 the previous week, the Labor Department reported Thursday.
The four-week average for claims, which compensates for weekly volatility, fell by 6,000 to 230,500.
In total, 1,476,000 Americans were collecting jobless aid the week that ended Feb. 12, a small uptick of 2,000 from the previous week's revised number, which was its lowest level since March 14, 1970.
First-time applications for jobless aid generally track the pace of layoffs, which are back down to fairly healthy pre-pandemic levels.
The Labor Department releases its February jobs report on Friday. Analysts surveyed by the financial data firm FactSet forecast that the U.S. economy added 400,000 jobs last month.
In January, the U.S. economy added a whopping 467,000 jobs and revised December and November gains upward by a combined 709,000. The unemployment rate stands at 4%, a historically low figure.
The U.S. economy has rebounded strongly from 2020′s coronavirus-caused recession. Massive government spending and the vaccine rollout jumpstarted the economy as employers added a record 6.4 million jobs last year. The U.S. economy expanded 5.7% in 2021, growing last year at the fastest annual pace since a 7.2% surge in 1984, which also followed a recession.
Inflation is also at a 40-year high — 7.5% year-over-year — leading the Federal Reserve to ease its monetary support for the economy. The Fed has said it will begin a series of interest-rate hikes this month in an effort to tamp down surging prices.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
