Jobless Claims Fall to 191,000

Federal Reserve Chairman Jerome Powell appears during a Senate Banking Committee hearing on Capitol Hill in Washington on March 7, 2023. (AP Photo/Andrew Harnik)
AP Photo/Andrew Harnik

New claims for unemployment benefits fell last week to 191,000, the Labor Department said Thursday.

Economists had forecast a rise in claims to 197,000. The prior week was unrevised at 192,000.

The Federal Reserve has been attempting to soften demand for labor in order to sap inflationary pressures from the economy. Despite many headlines about layoffs at companies like Amazon and Facebook, unemployment remains extraordinarily low.

The 4-week moving average of initial claims fell by 250 to 196,250.

Continuing claims, which are reported with a one week delay, rise by 14,000 to 1,694,000.



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