Weekly initial jobless claims inch up to 219,000

Published 20/02/2025, 14:54
© Reuters.

Investing.com - The number of Americans filing for first-time unemployment benefits ticked up last week, although the figure remained in a range that indicated ongoing resilience in the U.S. labor market.

Initial jobless claims came in at 219,000 for the week ended on February 15, increasing from an upwardly-revised level of 214,000 in the prior week, according to Labor Department data on Thursday. Economists had seen the figure at 215,000.

The four-week moving average, which aims to account for volatility in the weekly number, edged down by 1,000 to 215,250.

Claims have been broadly inching lower for much of 2025, in a sign of solidity in labor demand that has helped to support economic activity. The trend has also contributed to the Federal Reserve’s recent indication that it will take a wait-and-see approach to future potential interest rate reductions, particularly as uncertainty surrounds the possible impact on price growth of U.S. President Donald Trump’s plans for sweeping tariffs and mass deportations.

According to minutes from the central bank’s latest meeting released on Wednesday, Fed officials raised concerns around the possible "upside risks" to inflation, which currently lingers above the Fed’s 2% target level.

"[P]articipants cited the possible effects of potential changes in trade and immigration policy, the potential for geopolitical developments to disrupt supply chains, or stronger-than-expected household spending," the minutes said.

Atlanta Fed President Raphael Bostic later told Yahoo Finance that many businesses have indicated that they would pass on the costs of Trump’s import tariffs to consumers, although they are not sure how customers will respond.

Although layoffs have been lower, data has indicated that the number of available opportunities for people who lose their jobs is no longer as robust as it was around a year ago.

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