U.S. Jobless Claims Rise from 4-Decade Low

  • 2/10/2023
  • 14:54
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Washington, Rajab 21, 1437, Apr 28, 2016, SPA -- The number of people filing initial applications for U.S. state unemployment benefits rose last week but remained near the lowest level in four decades, the government reported Thursday, indicating that the sharply slowing economy has not increased layoffs. The Labor Department said jobless claims rose 9,000 to 257,000 last week. Claims fell in the previous week to the lowest level since late 1973. Jobless claims have been below 300,000-a level associated with a healthy jobs market-for more than a year, the longest streak since 1973. The four-week moving average of jobless claims-a less volatile measure considered a better gauge of labor-market trends-fell to 256,000, also a 42-year low. The data provides reassuring evidence that the economy’s slowdown has not forced employers to cut jobs. Gross domestic product (GDP) growth slowed to a two-year low of 0.5 percent in the January-March quarter, the government reported earlier Thursday. --SPA 18:14 LOCAL TIME 15:14 GMT www.spa.gov.sa/w

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