Despite US Banking Crisis, Labor Market Remains Strong... 190,000 Unemployment Claims
The U.S. Department of Labor announced on the 23rd (local time) that the number of new unemployment insurance claims for the week of March 12-18 decreased by 1,000 to 191,000 compared to the previous week. This decline was contrary to experts' expectations of a slight increase.
Despite concerns over a banking crisis heightened by the recent bankruptcy of Silicon Valley Bank (SVB), the labor market is still considered to be resilient. Unemployment insurance claims are typically one of the earliest warning signs indicating an impending economic recession.
Hot Picks Today
"If You Give 100,000 Won, You’ll Be Criticized"... Wedding Gift Amounts: 130,000 Won for Singles vs. 290,000 Won for Married Couples
- Elementary School Student Dies After Moving Ladder Truck Overturns at Cheonan Apartment Complex
- "We Can't Live Like This Anymore" Protests Escalate Amid Economic Crisis and Panic Buying... What Is Happening in Iran?
- Seoul Bolsters Resident Participation and Communication in Expedited Integrated Planning... Swift Support for Follow-Up Procedures
- "Such a Beauty in Korea" "Looks Like a Movie Star"... Which Volleyball Player is Making Japan Buzz?
The number of continuing unemployment insurance claims, which are filed by those claiming benefits for at least two consecutive weeks, rose by 14,000 to 1.69 million. Continuing claims are reported based on data from two weeks prior.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
