US Jobless Claims Rise Slightly, Labor Market Remains Stable

New unemployment applications increased by 5,000 last week to 219,000, while layoffs stayed near historically low levels, signaling ongoing labor market resilience.

• The Labor Department reported a rise of 5,000 in initial jobless claims for the week ending February 15, reaching 219,000, slightly above economists' expectations of 215,000.
• The four-week moving average of claims, which smooths out weekly fluctuations, declined by 1,000 to 215,250, reflecting overall labor market stability.
• Continuing unemployment claims for the week ending February 8 increased by 24,000 to a seasonally adjusted 1.87 million, indicating a modest rise in the total receiving benefits.
• Federal layoffs and hiring freezes, driven by budget cuts under the Trump administration, are not included in state-level claims data and could have broader economic impacts in regions reliant on federal employment.
• Analysts suggest that the current claims data aligns with a healthy labor market, providing the Federal Reserve with flexibility to maintain interest rates as they monitor inflationary pressures.

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