It’s a high-low situation in the U.S. job market.
The number of Americans applying for unemployment assistance rose last week. However, layoffs remain at historically low levels as the labor market continues to chug along despite elevated interest rates.
According to statistics released by the Labor Department Thursday, filings for unemployment claims for the week ending March 30 climbed to 221,000 from the previous week’s 212,000. That’s an increase of some 9,000 claims.
The four-week average of claims also rose, though more modestly, climbing to 214,250. That’s an increase of 2,750 from the previous week.
A total of some 1.79 million Americans were collecting jobless benefits during the week ending March 23, the Associated Press reported, a decline of 19,000 from the previous week.
Weekly unemployment claims have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020, the AP said.
