By Lucia Mutikani
The number of Americans filing new applications for unemployment benefits increased slightly last week, suggesting the labor market remained stable in March, though the outlook is darkening amid rising trade tensions and deep cuts in government spending.
Despite the low level of layoffs, more people are staying on jobless rolls longer compared to the same period last year. Economists say still-high interest rates and policy uncertainty are making companies cautious about increasing headcount.
“The data continue to tell a story of relatively few private-sector layoffs but limited employment opportunities for those who are unemployed,” said Nancy Vanden Houten, lead U.S. economist at Oxford Economics.
Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 223,000 for the week ended March 15, the Labor Department said on Thursday. Economists polled by Reuters had forecast 224,000 claims for the latest week.
Claims have been bouncing in the middle
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