The US job market remains strong despite efforts by the Federal Reserve to cool hiring. Jobless claims for the week ending March 18 fell to 191,000, a decrease of 1,000 from the previous week. The four-week moving average of claims, which removes some week-to-week fluctuations, fell to 196,250, below the threshold of 200,000 for the ninth consecutive week. The applications for unemployment benefits are viewed as an indicator of layoffs in the US. The Fed has raised interest rates by a quarter-point to combat high inflation, hoping to cool the economy, labour market and wages, but so far, the economy remains robust, and layoffs have increased in the technology sector.

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