FX.co ★ US Initial Jobless Claims Edge Down Slightly

In the week concluding on March 22, initial jobless claims in the United States saw a decline of 1,000 to 224,000, slightly surpassing market expectations of 225,000, while maintaining historically low levels. Concurrently, continuing claims decreased by 25,000 in the prior week. These figures reinforce the perception of a strong U.S. labor market, despite an extended period of restrictive monetary policy and a pessimistic set of economic indicators released in the first quarter of the year. Additionally, unemployment claims filed under programs for federal government employees, which have drawn attention due to layoffs by the Department of Government Efficiency (DOGE), fell by 245 to 821. Nonetheless, reports indicate that these terminations were often accompanied by severance packages, which delay the eligibility for employees to claim benefits immediately following their dismissal.