US weekly jobless claims come in below forecast at 213,000

New U.S. weekly jobless claims totaled 213,000 for the week of Feb. 22–28, coming in below the forecast of 215,000. The weekly jobless claims figure is a key indicator the Federal Reserve uses to assess the labor market when making interest rate decisions. A higher-than-expected number signals an increase in layoffs, suggesting a cooling labor market and potentially providing the Fed with a reason to cut interest rates. Conversely, a lower-than-expected figure points to a robust labor market, which could support the Fed's decision to hold or raise rates to focus on curbing inflation.