The Labor Department reported a decrease in U.S. jobless claims last week, according to AP News.
By the numbers: Jobless claims fell to 215,000 for the week ending Feb. 26, down from 233,000 the previous week. The four-week average for claims fell by 6,000 to 230,500. Approximately 1,476,000 Americans were collecting jobless aid in the week ending Feb. 12.
Recent economic trends: “The U.S. economy has rebounded strongly from 2020′s coronavirus-caused recession. Massive government spending and the vaccine rollout jumpstarted the economy as employers added a record 6.4 million jobs last year. The U.S. economy expanded 5.7% in 2021, growing last year at the fastest annual pace since a 7.2% surge in 1984, which also followed a recession.”
Inflation still high: Inflation remains at the highest level in four decades, prompting the Fed to lean into a series of interest-rate increases that are expected to begin this month.