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Weekly jobless claims increase

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Weekly jobless claims increase

Results miss expectations slightly.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended February 13 were 272,000, an increase of 10,000 from the previous week's unrevised figure.  

Analysts had expected claims to come in at 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 1,250 to 272,000.

Claims overall have stayed below the 300,000 level for 51 consecutive weeks, which indicates a strong labor market in the US, despite what appears to be a significant slowdown in economic growth in the US and globally.

 

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