The number of people who filed for unemployment in the US last week rose slightly, showing signs that the labour market remains tight despite aggressive interest-rate increases by the Federal Reserve.
The number of jobless claims — an indicator for layoffs — in the week ending March 25 increased by 7,000 to a seasonally adjusted total of 198,000, the Labour Department reported on Thursday. The four-week moving average was 198,250, up from last week's figure of 196,250.
On an unadjusted basis, the number of initial jobless claims increased by 10,906 to 223,913.
Jobless claims have remained relatively low in the US despite large amounts of layoffs reported across the tech industry.
The Fed raised its interest rates by 25 basis points last week, signalling it could pause its rate increases soon, as it continues efforts to tamp down inflation in the US. The Fed hopes that by raising interest rates it could also soften the labour market, ostensibly in the form of layoffs.
But at a 3.6 per cent unemployment rate, the US labour market remains tight. The Fed anticipates unemployment to rise to 4.5 per cent by the end of the year, according to their economic forecasts published last week.
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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