Posted 3/7/2024, 4:01:36 PM
Jobless Claims Steady as Trade Deficit Widens, Slowing Growth
- Weekly jobless claims unchanged at 217,000 as labor market continues to gradually improve
- Trade deficit widened sharply in January to $67.4 billion as imports rose more than exports
- First quarter GDP growth expected to slow to around 2.0% pace due to trade deficit drag
- Labor market showing signs of loosening up which could ease inflation pressures
- Layoffs by U.S. companies rose only 3% in February, remaining low overall
