US weekly jobless claims decline, indicating resilient labor market amid rising interest rates.
US weekly jobless claims fall more than expected, suggesting resilient labor market despite rising interest rates. Initial claims for state unemployment benefits dropped 11,000 to 211,000, and the labor market remains resilient despite 525 basis points worth of interest rate hikes since March 2022 to tame inflation. Job growth accelerated in March, and the unemployment rate decreased to 3.8% from 3.9% in February.
April 11, 2024
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