<2> Sluggish but generally stable jobless-claims data ease concern raised by February payrolls report
<3> First-time unemployment claims at 213,000 are little changed for a third straight week
The Labor Department’s weekly jobless claims report, released on Thursday, showed that the number of Americans filing for unemployment benefits for the first time remained relatively stable, with 213,000 new claims filed during the week. This figure is little changed from the previous week’s total of 214,000, and marks the third consecutive week in which the number of new claims has remained steady.
<3> The stability in jobless claims data comes as a welcome relief to economists and policymakers, who had been bracing for a potential increase in new claims following the release of the February payrolls report. That report showed a slowdown in job growth, with the economy adding just 311,000 new jobs in February, down from 504,000 in January.
<3> However, despite the slowdown in job growth, the labor market remains strong, and the stability in jobless claims data suggests that the economy is still creating new opportunities for workers. As the economy continues to recover from the pandemic, the labor market is expected to remain a key driver of growth