Jobless claims rose by 11,000 to 227,000 for the week ending March 5, the Labor Department reported Thursday.
The four-week moving average for that number is at its lowest level in more than 50 years.
Last week, the government reported that employers added a robust 678,000 jobs in February, the largest monthly total since July.
The number of people quitting their jobs slipped to 4.25 million, down from 4.4 million, though January’s figure is still 23% above pre-pandemic levels.
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.