US jobless claims back off from lowest level since 1969; increase by 21,000

The number of Americans filing for unemployment benefits rebounded last week from a more than 48-year low, but the trend continued to point to robust labour market conditions. That was underscored by other data on Thursday showing job cuts announced by US-based employers fell 20 per cent in February.

Federal Reserve officials consider the labour market to be near or a little beyond full employment. The tight jobs market is seen boosting wage growth and spurring inflation. Initial claims for state unemployment benefits increased.....

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