US weekly jobless claims rise slightly
The number of Americans filing new applications for unemployment benefits increased moderately last week, suggesting that the labor market remained on solid ground. Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 219,000 for the week ended February 15, while continuing claims increased 24,000 to a seasonally adjusted 1.869 million. Historically low layoffs have been keeping the labor market stable, but economists expect job growth to slow down in the second half of the year.
- The rise in jobless claims could be an early indicator of the economic impact of government budget cuts and hiring freezes on private sector employment.
- How will the expected slowdown in job growth in the second half of the year affect the Federal Reserve's decision-making process regarding interest rates?