Higher March Jobless Claims Add to Signs of Cooling Labor Market

📆 06/04/2023 20:30:00
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Filings for unemployment benefits were larger than previously thought last month, according to new government calculations

Filings for unemployment benefits were higher than previously thought in recent weeks, in a sign of easing demand for workers as the labor market slowly cools.

, a proxy for layoffs, reached nearly 250,000 a week in mid-March, roughly 50,000 higher than previously reported, the Labor Department said Thursday. The change reflects revised calculations that strip out seasonal fluctuations in economic activity, the department added.

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The Biden admin. “ we hide the facts if they don’t help is” on brand.

Of course. Lay-off are happening everywhere

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U.S. stocks open modestly lower after jobless claims come in higher than expected ahead of March jobs reportU.S. stock indexes opened lower on Thursday after data shows the number of Americans filing for unemployment benefits came in higher than expected last week. The Dow Jones Industrial Average dropped 65 points, or 0.2%, to 33,421:
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