US Jobless Claims Rise More than Expected
The number of Americans filing for unemployment benefits went up to 231 thousand in the week ended March 3rd 2018 from 210 thousand in the previous week which was the lowest since December of 1969. It compares with market expectations of 220 thousand.
The 4-week moving average was 222,500, an increase of 2,000 from the previous week’s unrevised average of 220,500.
According to unadjusted data, the biggest rises in initial claims were seen in NY (18,348), California (12,189) and Washington (1,066). Claims in Puerto Rico declined by 206 and in Virgin Islands by 9. Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.
The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending February 24, a decrease of 0.1 percentage point from the previous week’s unrevised rate.
Continuing claims fell by 64,000 to 1,870,000 during the week ending February 24. The previous week’s level was revised up 3,000 from 1,931,000 to 1,934,000.
The 4-week moving average was 1,906,750, a decrease of 14,250 from the previous week’s revised average. The previous week’s average was revised up by 1,000 from 1,920,000 to 1,921,000.
Source | Trading Economics