BlockBeats report: On March 12, U.S. initial jobless claims declined last week, indicating that corporate layoffs remain limited. The U.S. Department of Labor stated on Thursday that initial jobless claims for the week ending March 7 totaled 213,000, below the prior week’s 214,000 and also below the market expectation of 215,000. Continuing claims for the week ending February 28 fell to 1.85 million, down from 1.87 million the previous week. Prior to Thursday’s release of initial jobless claims data, the Department of Labor last week published a weaker-than-expected jobs report showing a net loss of 92,000 jobs last month, following a gain of 126,000 in January. However, the relatively modest initial jobless claims data suggest that businesses prefer to retain employees rather than implement large-scale layoffs. (Jinshi)
U.S. initial jobless claims decline slightly, indicating a moderate level of layoffs
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Summary
U.S. initial jobless claims for the week ending March 7 declined to 213,000, below the expected 215,000. Continuing claims fell to 1.85 million. On-chain data shows altcoins to watch are responding to mixed signals from the labor market. The February jobs report indicated a loss of 92,000 jobs, but the decline in claims suggests employers are holding off on major layoffs.
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