Jobless Claims Drop, Labor Market Holds Steady
Vancouver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. jobless claims decreased last week, indicating a steady labor market despite a cooling job market and rising energy costs due to the Iran war. The week ending March twenty-eighth saw applications fall to 202,000, beating expectations of 212,000. However, some major companies like Oracle, Morgan Stanley, Block, UPS, and Amazon have recently made cuts, adding pressure to the economy. Inflation is already high at 2.8%, and the Middle East conflict has caused oil prices to surge, impacting businesses and consumers. The four-week average of claims eased, but continuing claims rose, suggesting longer job searches. The March jobs report, due out Friday, could provide more insights as the Fed maintains a cautious stance on interest rates.
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