Odaily News The number of Americans filing for unemployment benefits increased more than expected last week. Initial claims rose by 22,000 to a seasonally adjusted 242,000 in the week ended February 22, the Labor Department said Thursday, above market expectations of 221,000. A separate Unemployment Compensation for Federal Employees (UCFE) program shows that mass layoffs of federal probationary employees, most of whom were fired by Musk's Department of Government Efficiency (DOGE) around February 14, have not yet had any impact. As policymakers closely monitor the impact of Trump's fiscal, trade and immigration policies on the economy, historically low layoffs are maintaining the momentum of economic expansion, giving the Federal Reserve room to keep interest rates unchanged. Economists believe that the Trump administration's policies will lead to inflation. (Jinshi)
