US jobless claims rise
The number of Americans filing new claims for unemployment benefits rose more than expected last week but remained at a level consistent with tough labor market conditions and further wage gains.
The US Labor Department said on Thursday that first-time applications for state unemployment benefits rose 19,000 to 200,000 after adjusting for seasonal factors for the week ending April 30.
Economists polled by Archyde.com had expected 182,000 orders.
Claims have been hovering below 200,000 since mid-February, amid strong demand for workers.
The US Federal Reserve raises interest rates
The US Federal Reserve approved raising interest rates, on Wednesday, in the first increase since 2018.
On Wednesday, the US Federal Reserve raised interest rates by a quarter of a percentage point, and expected them to reach a range between 1.75 percent and 2 percent by the end of the year.
The US central bank said it expects inflation to remain above its 2 percent target, at 4.1 percent this year, and only decline to 2.3 percent through the end of 2024.
He also expected inflation to reach 4.3 percent in 2022, 2.7 percent in 2023, and 2.3 percent in 2024.
He said he expected economic growth to reach 2.8 percent this year, a sharp drop from his previous forecast for growth in December of 4.0 percent.
The Federal Reserve expected that the unemployment rate in the United States would fall to 3.5 percent this year and remain at this level next year, but it is expected to rise slightly to 3.6 percent in 2024.