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Weekly jobless claims increase

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Weekly jobless claims increase

Results miss expectations.

 

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended February 27 were 278,000, an increase of 6,000 from the previous week's unrevised figure. 

Analysts had expected claims to come in at 271,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 1,750 to 270,250.

Claims overall have stayed below the 300,000 level for 52 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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