With layoffs at 45-year lows, more Americans filed initial jobless claims than analysts had expected.
A Department of Labor report showed that 248,000 Americans filed new unemployment insurance claims – 6,000 more than economists had expected despite the lowest level of layoffs recorded in more than four decades.
Higher-than-normal layoffs in Massachusetts were more than offset by reductions in 11 other states keeping job loss to a minimum while the ADP report released Wednesday showed a surprising jump in job creation.
The unexpected rise in initial claims may be due to optimism in those who had stopped looking for work in the Obama economy as President Trump’s policies prompt employers to invest in facilities and staff.
The Complete Department of Labor ‘Unemployment Insurance Weekly Claims’ ending March 4th, 2017
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