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
"I Came to Korea and Easily Made 3.3 Million Won a Month"... The "Easy Gig" Everyone's Talking About Among International Students Turns Out to Be...
- Influenza Cases Surge Sevenfold, 900 Schools Close... Japan in Turmoil Over Outbreak
- North Korean Landmine Incident... Angry Male Support for Ruling Party Falls 10.5 Points [Asia Business Daily-Realmeter Poll]
- "Hand in Your Resignation and Get a Year's Salary"... This Country Pushes Early Retirement for Civil Servants
- "Oh Eunyoung's Consultation Fee: Millions of Won? Not Expensive"... Yonsei Professor's Sharp Rebuke over "300,000-Won Lecture Fee"
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.
