Just because the U.S. economy has slowed doesn’t mean companies have stopped hiring or people have given up looking for work. Far from it.
The Fed study is the latest proof the jobs market continues to sizzle. The rate of layoffs each week — known as jobless claims — fell below 200,000 earlier this month for the first time since 1969. The economy also added almost 200,000 new jobs in March after a feeble 33,000 gain in February, keeping the unemployment rate at 3.8%.
The increase should be viewed with some caution since it’s a particularly up-and-down number, but it is the highest number the regional Fed bank has recorded.
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