U.S. first-time unemployment claims fall to 221,000
The numbers: The number of laid-off workers who applied for unemployment benefits declined in mid-March to a one-month low, suggesting little deterioration in a robust labor market that’s powered the economy over the past several years.
What happened: Jobless claims sank below the key threshold of 300,000 in 2015 and have stayed low ever since, but they are no longer falling. Claims are viewed as a sort of modern canary in the coal mine. They tend to give the earliest clues of whether the economy is getting better or worse. So long as most Americans are working, earning paychecks and spending the economy should be OK, economists say.
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