Applications for U.S. unemployment benefits were little changed last week at a relatively low level that underscores a resilient labor market.
Initial claims increased by 2,000 to 223,000 in the week ended March 15, according to Labor Department data released Thursday. That was in line with the median forecast in a Bloomberg survey of economists. The period coincides with the survey week for the monthly jobs report.
Continuing claims, a proxy for the number of people receiving benefits, rose to 1.89 million in the week ended March 8, also matching expectations.
The number of initial claims adds to evidence that the job market is healthy. Federal Reserve Chair Jerome Powell described it as in balance — “a low firing and low hiring situation.”
Still, policymakers are watching for any signs of a “meaningful increase in layoffs” because it’s taking longer for unemployed to find another job, Powell said Wednesday following the Fed’s decision to hold interest rates steady.
The four-week moving average of new applications, a metric that helps smooth out fluctuations from week-to-week, was also little changed at 227,000.
Before adjusting for seasonal factors, initial claims fell. California and Illinois saw the largest declines.
---
Nazmul Ahasan, Bloomberg News
--With assistance from Mark Niquette.
©2025 Bloomberg L.P.
