OKLAHOMA CITY — Despite another increase in the prime interest rate, Oklahoma’s unemployment rate and the number of first-time claims for jobless benefits remain relatively low.
Initial claims for unemployment benefits that were filed the week that ended March 25 numbered 1,104, which was 209 fewer than were filed the week before, the U.S. Department of Labor reported. And the 1,313 initial claims that were filed the week of March 18 constituted an increase of only two from the previous week, the Oklahoma Employment Security Commission announced.
The unadjusted number of continuing claims for the file week that ended March 18 totaled 10,104, a decrease of 173 from the previous week, the OESC said.
Oklahoma’s unemployment rate has dropped to 3%, compared to the national rate of 3.6%, according to the U.S. Bureau of Labor Statistics.
For the ninth time in 13 months, the Federal Reserve, in its efforts to tame persistent inflation, raised the prime interest rate another 0.25% effective March 23, to a range of 4.75% to 5%.