Initial Jobless Claims in U.S. Edge Down Slightly, Indicating Moderate Layoffs

BlockBeats News, March 12th, the number of initial unemployment claims in the United States fell last week, indicating that the scale of corporate layoffs remains limited. The U.S. Department of Labor said on Thursday that for the week ending March 7th, the number of initial unemployment claims was 213,000, lower than the previous week's 214,000 and also below the market expectation of 215,000. The number of continuing unemployment claims as of the week ending February 28th dropped to 1.85 million, down from the previous week's 1.87 million. Prior to the release of the initial unemployment claims data on Thursday, the U.S. Department of Labor last week published a weaker-than-expected employment report, which saw a reduction of 92,000 jobs last month after an increase of 126,000 in January. However, the relatively moderate initial unemployment claims data suggest that companies are more inclined to retain employees rather than conduct large-scale layoffs. (FXStreet)