According to a report by ChainCatcher, the number of initial jobless claims in the US last week increased more than expected. The Labor Department said on Thursday that in the week ending February 22, the number of initial claims increased by 22,000, seasonally adjusted to 242,000, higher than the market expectation of 221,000.
A separate federal employee unemployment compensation (UCFE) program showed that the large-scale layoffs of federal probationary employees have not had any impact, with most of them being laid off by Doge's government efficiency department around February 14.
As policymakers closely monitor the impact of Trump's fiscal, trade and immigration policies on the economy, the historically low layoffs are maintaining the momentum of economic expansion, giving the Federal Reserve room to keep interest rates unchanged. Economists believe that the Trump administration's policies will lead to inflation.