Weekly jobless claims in the US continue to stay at a low level, according to World News.

The number of Americans filing new claims for unemployment benefits remained steady at a low level last week, indicating ongoing strength in the labor market. This resilience, coupled with elevated inflation, has led to speculation among financial markets and some economists that the Federal Reserve may delay cutting interest rates until September.

According to the US Labor Department, initial claims for state unemployment benefits held steady at a seasonally adjusted 212,000 for the week ending April 13. While economists had anticipated 215,000 claims, the actual numbers have been fluctuating within a range of 194,000-225,000 throughout the year.

Despite the overall stability in claims, there were notable increases in filings in states like California, Connecticut, Georgia, and Oregon. However, these were offset by declines in New Jersey, Minnesota, Ohio, Pennsylvania, and Wisconsin.

Federal Reserve Chair Jerome Powell recently refrained from providing a timeline for potential rate cuts, emphasizing the need for continued restrictive monetary policy. The central bank has maintained its policy rate between 5.25%-5.50% since July and has raised the benchmark overnight interest rate by 525 basis points since March 2022.

The latest “Beige Book” report from the Fed described employment as increasing at a slight pace overall, with some districts reporting improved retention of employees while others noted staff reductions at certain firms. The report also highlighted persistent shortages of qualified applicants for specific positions.

Looking ahead, data on continuing claims in the coming weeks will provide further insights into the state of the labor market in April. While the level of continuing claims remains relatively low historically, the slight increase suggests that some unemployed workers may be facing challenges in finding new jobs.