WASHINGTON, Feb 18: US jobless claims rose for the first time in four weeks, according to weekly data from the Labor Department on Thursday that suggested fresh challenges for policymakers in maintaining a fluid growth for jobs amid recovery from the coronavirus pandemic.
“In the week ending February 12, the advance figure for seasonally adjusted initial claims was 248,000, an increase of 23,000 from the previous week’s revised level,” the Labor Department said in a statement.
Claims had dropped in three previous weeks, continuing the recovery in the job market, which collapsed shortly after the COVID-19 outbreak in March 2020.
Economists polled by US media had expected claims to average 218,000 last week.
“The data is a bit weaker than expectations, but still near lower levels,” economist Greg Michalowski said on the Forexlive platform. “So no panic in the jobs reports.”
US unemployment reached a record high of 14.8% in April 2020 but fell to 3.9% in January, just below the 4% that the Federal Reserve defines as “maximum employment.”
(UNI)
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