March 20 (Bloomberg) — The number of Americans filing applications for unemployment benefits held last week near the lowest level in almost four months, a sign the labor market continues to strengthen.
Jobless claims increased by 5,000 to 320,000 in the week ended March 15, a Labor Department report showed today in Washington. The median forecast of 51 economists surveyed by Bloomberg called for an increase to 322,000. The four-week average, a less volatile measure, fell to the lowest level since late November.
A slowdown in dismissals may pave the way for employers to take on more workers once demand accelerates. Federal Reserve policymakers said yesterday in a statement there is "sufficient underlying strength in the broader economy to support ongoing improvement in labor-market conditions," even as economic activity slowed during the winter months.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
