Jobless claims rise to one-month high of 229,000, but rate of layoffs still very low

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Jobless claims rise to one-month high of 229,000, but rate of layoffs still very low
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U.S. first-time unemployment claims rise to 229,000 in week of March 9

The numbers: The number of jobless workers who applied for unemployment benefits last week rose to a one-month high, but the level of layoffs in the U.S. remained extremely low.

The four-week average of new jobless claims, on the other hand, fell by 2,500 to 223,750. The monthly average is viewed as more stable since it smoothens out the weekly gyrations. The number of people already collecting unemployment benefits, known as continuing claims, increased by 18,000 to 1.77 million. A year earlier, these claims stood at a higher 1.88 million.

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