US initial jobless claims 210K vs 225K expected

Weekly US initial jobless claims for the week ending Feb 24

  • Prior claims were 222K, but revised down to 220K
  • This is the lowest level for initial claims since December 6, 1969 when it
    was 202,000
  • The continuing claims 1931K vs 1925K
  • The 4-week average fell to 220.5K vs 225.50.   This is the lowest level for this
    average since December 27, 1969 when it was 219,750.
  • Claims in Puerto Rico and the Virgin Islands have still not returned to normal
  • The largest increases in initial claims for the week ending February 17 were in Puerto Rico (+496), New Jersey (+333),
    Rhode Island (+95), Arkansas (+87), and Alabama (+59), 
  • The largest decreases were in Michigan (-4,820), Illinois
    (-2,031), New York (-998), California (-924), and Washington (-913)

The data continues to show the jobs market is roaring.  That should lead to higher wages.  Powell cannot ignore that dynamic. Article Source

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