US jobless claims are at a record low

This is the lowest number recorded since 1969, showing US labor market is gradually getting out of stagnation, businesses are stepping up recruitment again.

The report also said the rate Unemployment in the US fell to a two-year low of 3.8% in February.

Observers point out that there is still no sign that the conflict between Russia and Ukraine has affected the US labor market, although this development has sent gasoline prices in the country to record highs and is expected to make the US labor market worse. exacerbated the strain on the global supply chain.

Americans wait in line to report their unemployment status at the Arkansas Workforce Center in the city of Arkansas, USA. (Photo: Reuters)

Companies still need workers. There were 11.3 million job openings posted at the end of January 2022, with a record rate of 1.8 positions offered for every job-seeker.

However, the labor supply-demand gap is also forecasted to pull wages up and affect inflation in the coming time.

Last week, the US Federal Reserve (Fed) raised its key interest rate by 25 basis points (0.25%), the first increase in more than three years.

Fed Chairman Jerome Powell said on March 21 that the central bank must act “urgently” in adjusting interest rates and may be more aggressive to contain inflation.

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