The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to continued labor market strength, though financial markets turmoil is casting a shadow over the economy.
Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 192,000 for the week ended March 11, the Labor Department said on Thursday. Economists polled by Reuters had forecast 205,000 claims for the latest week. Labor market tightness, marked by 1.9 job openings for every unemployed person in January, together with stubbornly high inflation argue for the Federal Reserve to continue raising interest rates next week.Silver, like other commodities including gold and oil, is a haven for traders during times of economic downturn, and particularly inflation, where the strength of the U.S. dollar is weakened, and investors begin looking for material wealth.
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