The labor market remained stable last week as unemployment benefit applications remained steady at 224,000, aligning with analyst expectations. Weekly jobless claims have stayed within the typical range of 200,000 to 250,000, indicating that companies are retaining workers. The impact of federal workforce layoffs under the Department of Government Efficiency (DOGE) has yet to fully appear in reports, though economists expect it may show up in the March jobs data. Despite some signs of softening, hiring remains strong, and the unemployment rate is still at historically low levels.
See "US applications for unemployment benefits hold steady, remain in recent healthy range", Matt Ott, ABC News, March 27, 2025