The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. Tightening labor market conditions have raised optimism among Federal Reserve officials that inflation will increase towards the U.S. central bank's 2 percent target this year.
The Fed on Wednesday left its benchmark overnight interest rate unchanged and described the labor market as having "continued to strengthen." U.S. financial markets expect a rate increase in March. The Fed has forecast three rate increases for this year after lifting borrowing costs three times in 2017.
Week - Average - Claims - Measure - Labor
Last week, the four-week moving average of initial claims, considered a better measure of labor...