U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels.
Elizabeth Frantz | Reuters
The four-week moving average of claims, which evens out some of the week-to-week fluctuations, rose by 2,250 to 240,000. That's the most since November of 2021. The job market seems to be finally showing some signs of softening, more than a year after the Federal Reserve began an aggressive campaign to cool inflation by raising its benchmark borrowing rate nine times in about a year.
Also last week, the Labor Department reported that U.S. job openings slipped to 9.9 million in February, the fewest since May 2021.
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