Jobless Claims , Rise Higher Than Expected .<br />CNBC reports that initial filings for unemployment <br />insurance rose last week but remained relatively <br />low amid a contracted labor market.<br />For the week ending March 25, jobless claims <br />totaled 198,000, up 7,000 from the week before.<br />According to the Labor Department, new jobless <br />claims were higher than the estimated 195,000.<br />CNBC reports that the numbers indicate <br />that layoffs may slow despite predictions <br />that unemployment will rise through 2023.<br />The Labor Department's report also showed <br />that continuing unemployment claims rose <br />by 4,000 to reach 1.689 million.<br />The four-week moving average <br />rose slightly to 198,250.<br />Since mid-January, the four-week moving <br />average for weekly unemployment <br />claims has remained below 200,000. .<br />Last week, Federal Reserve estimates <br />suggested that the unemployment rate <br />will rise to 4.5% in 2023.<br />Currently, that figure is sitting at 3.6%, <br />meaning that over 540,000 jobs are <br />expected to be lost in the coming year. .<br />Although hiring in the U.S. economy <br />remains strong, there appears to be <br />the potential for more slack in hiring trends <br />set for the spring and summer months, Stuart Hoffman, senior economic adviser at PNC, via CNBC.<br />This is not to say that economic conditions <br />are set to collapse entirely. Rather, any newly <br />laid-off workers are not as likely to be so <br />quickly rehired as businesses assess their <br />plans to weather what we expect will be a <br />mild recession in the second half of this year, Stuart Hoffman, senior economic adviser at PNC, via CNBC
