U.S. unemployment claims climb 11,000 to 227,000, but still near pandemic low
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early March largely because of unusually big increases in New York and California. Yet businesses are trying to avoid layoffs as they confront an extremely tight labor market and fill a record number of open positions.
Initial jobless claims rose from a revised 216,000 in the prior week, the Labor Department said Thursday. Jobless claims still appear on track to fall near 200,000 again in the near future. They briefly fell to a 52-year low of 188,000 at the end of last year.Companies have more than 11 million open positions — two for every unemployed worker — but they are struggling to fill many of them. Most are offering higher pay and benefits to attract new employees.
Key details: Raw or unadjusted jobless claims surged by 16,255 in New York and by 6,233 in California. Most other states showed little or no change and 25 reported declines.
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