Weekly jobless claims up above 200K
The robust job market might be starting to crack.
COLUMBIA, S.C. (WOLO)— The robust job market might be starting to crack.
Data from the Department of Labor found first-time claims for unemployment insurance jumped up 21,000 last week, the first week of March, to 211,000.
That’s the highest weekly total since late December.
Still, the job market has held strong under eight rounds of interest rate hikes and amid recent layoffs in the tech, media, and finance sectors.
Federal Reserve Chairman Jerome Powell reiterated this week that the Central Bank will continue to hike its benchmark interest rate as long as necessary to tamp down historic inflation.
