Odaily News The number of Americans filing for unemployment benefits fell last week, returning to the modest levels seen at the start of the year. Initial jobless claims fell by 21,000 to 221,000 in the week ended March 1, below expectations for a 233,000. Continuing claims rose to 1.9 million last week. The figure is close to the three-year high set in January, suggesting the unemployed are having more trouble finding new jobs. Economists are closely watching weekly jobless claims for signs of a deteriorating job market as the Trump administration moves to reduce the size of the federal government and concerns about the impact of tariffs weigh on corporate decisions. (Jinshi)
According to CME Fed Watch data, after the release of U.S. initial jobless claims, the probability of the Fed cutting interest rates by 25 basis points in March dropped to 7% (previously 9%), and there are about 13 days left until the next FOMC meeting.