Overview
- Initial claims fell to 207,000 for the week ended April 11, the Labor Department said Thursday, matching this year’s pattern of low layoffs.
- The four-week average edged up to 209,750 and continuing claims rose 31,000 to 1.818 million, suggesting some workers are spending longer on benefits.
- Federal Reserve contacts reported firms are wary of permanent hiring, with the Middle East conflict cited as a major source of uncertainty in the Beige Book.
- Oil prices are up more than 35% since late February and March consumer inflation reached 3.3% year over year, a setup that keeps Fed officials cautious about cutting rates.
- Unadjusted state figures showed increases in New Jersey, Pennsylvania, and Oregon, while New York and Texas declined, highlighting uneven local job markets beneath stable national totals.