The Labor Department reported that <strong>initial jobless claims</strong> decreased slightly last week. This claims report confirms there is no current evidence of substantial layoffs in the labor market via a cut off in federal spending from the DOGE. It’s important to note, DOGE does not have authority to make decisions on spending cuts or headcount reduction, rather they make recommendations. It will take a few weeks for agency heads to follow through, or reject the recommendations. First time claims in regular state programs recorded 220,000 for the week ending March 8th, after the prior week’s report of 222,000. The four-week moving average increased to 226,000 from 224,500 the prior week.

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The Labor Department reported that <strong>initial jobless claims</strong> decreased from last week with a jump in jobless claims from federal workers being offset by a decline in regular state claims. Layoffs by the DOGE, whether directly from the Federal government payrolls or indirectly through private sector contracts, are only recommendations so it will take a few weeks for agency heads to follow through or reject the recommendations. First time claims in regular state programs recorded 221,000 for the week ending March 1st, after the prior week’s report of 242,000. The four-week moving average increased to 224,250 from 224,000 the prior week.

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