Jobless Claims Rise Slightly But Labor Market Remains Strong
• New jobless claims rose to 221,000 last week, highest level since January, but labor market remains tight overall • Number of people continuing to receive benefits fell, suggesting laid-off workers are still finding new jobs • Solid job growth still expected for March employment report coming Friday • Rising imports widened trade deficit in February, could subtract from GDP growth in Q1 • Atlanta Fed lowered Q1 GDP growth forecast to 2.5% from 2.8% due in part to strength of imports