FX.co ★ US Claims Fall, Continuing Rise to Over 3-Year High

In the week ending March 29, initial jobless claims in the United States fell by 6,000 to 219,000, surpassing market predictions of 225,000 and maintaining their position at historically low levels. Conversely, ongoing claims increased by 56,000 to 1,903,000, marking the highest level since November 2021 and significantly exceeding forecasts. This uptick indicates that those who are unemployed are finding it tougher to reintegrate into the workforce. Additionally, unemployment claims filed by Federal government employees dropped by 257 to 564. This figure has been carefully monitored due to layoffs conducted by the Department of Government Efficiency (DOGE). Although there has been a decline, reports suggest that many of the layoffs executed by DOGE included severance packages, which delay employees' eligibility to claim benefits immediately following their termination.