US Job Market Stays Sturdy as Unemployment Claims Hover Near Pre-Pandemic Lows

Applications for US unemployment benefits dipped slightly to 210,000 last week, indicating the labor market remains strong.

The 4-week average of claims fell to 211,000, showing week-to-week consistency in the job market.

1.8 million Americans were collecting unemployment benefits in mid-March, up 24,000 from the prior week.

Despite some recent layoffs, overall dismissals remain below pre-pandemic levels.

The US economy grew at a solid 3.4% pace in Q4 2021, confirming a deceleration from Q3's rapid 4.9% expansion rate.