U.S. Weekly Jobless Claims Unexpectedly Edge Down To 211,000
12 März 2020 - 10:59AM
RTTF2
First-time claims for U.S. unemployment benefits unexpectedly
showed a modest decrease in the week ended March 7th, according to
a report released by the Labor Department on Thursday.
The report said initial jobless claims dipped to 211,000, a
decrease of 4,000 from the previous week's revised level of
215,000.
Economists had expected jobless claims to inch up to 218,000
from the 216,000 originally reported for the previous week.
Meanwhile, the Labor Department said the less volatile four-week
moving average crept up to 214,000, an increase of 1,250 from the
previous week's revised average of 212,750.
Continuing claims, a reading on the number of people receiving
ongoing unemployment assistance, fall by 11,000 to 1.722 million in
the week ended February 29th.
The four-week moving average of continuing claims still rose to
1,727,500, an increase of 5,250 from the previous week's revised
average of 1,722,250.
Last Friday, the Labor Department released a separate report
showing employment in the U.S. soared by much more than expected in
the month of February.
The Labor Department said employment surged up by 273,000 jobs
in February, matching the upwardly revised spike in January.
Economists had expected employment to increase by about 175,000
jobs compared to the jump of 225,000 jobs originally reported for
the previous month.
With the much stronger than expected job growth, the
unemployment rate unexpectedly edged down to 3.5 percent in
February from 3.6 percent in January. The rate had been expected to
remain unchanged.
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