Business Standard

US jobless claims fall; inflation revised higher in fourth quarter

Weekly jobless claims fall 3,000 to 192,000

job prospect, jobs, economy

Photo: Bloomberg

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to a persistently tight labor market, and further fueling fears that the Federal Reserve could raise interest rates higher than anticipated.
Those worries were amplified by other data on Thursday showing inflation was much stronger than initially thought in the fourth quarter, which raises the risk of higher readings when the government publishes January's personal consumption expenditures (PCE) price data on Friday.

While the Fed is expected to deliver two additional rate hikes of 25 basis points in March and May, financial markets are betting

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First Published: Feb 23 2023 | 9:29 PM IST

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