The Labor Department reported that <strong>initial jobless claims</strong> rose for the first time in six weeks last week. It was the fourth straight week claims held below 200,000, a level that is historically very low. Despite a rising number of layoffs spreading beyond tech companies, such as Disney and Boeing, many businesses are still struggling to hire. Demand for workers still far exceeds supply. Claims in regular state programs increased 13,000 to 196,000 for the week ending February 4th, after reporting 183,000 initial claims the prior week. The four-week moving average dropped to 189,250 from 191,750 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased by 38,000 to 1.688 million for the week ending January 28th.

United Community Banks, Inc. has signed a merger agreement with First Miami Bancorp, Inc. | $115.9 Million | 02/13/2023

Bel Fuse, Inc. Has Acquired A Minority Stake In innolectric AG. Stephens served as exclusive buy-side advisor to Bel Fuse, Inc. on the acquisition of a minority stake in innolectric AG.

The Labor Department reported that <strong>initial jobless claims</strong> declined again last week to its lowest level since April. The labor market continues to show strength, which is concerning as it is a key hurdle in the Federal Reserve’s fight against inflation. Demand for workers still far exceeds supply. Claims in regular state programs declined 3,000 to 183,000 for the week ending January 28th, after reporting 186,000 initial claims the prior week. The four-week moving average dropped to 191,750 from 197,500 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, decreased by 11,000 to 1.655 million for the week ending January 21st.

Stephens announced that it will partner with the Formula 1 World Championship team Williams Racing as the team’s Official Investment Banking partner from the 2023 season.