US initial jobless claims 231K vs. 220K estimate

Continuing claims 1870K vs 1919K last week

The US initial jobless claims rose by 21k in the current week to 231K versus 220K estimate.  The continuing claims came in at 1870K va 1919K last week.

  • continuing claims revised to 1934K from 1931K reported last week
  • The 4-week moving average was 222.5K, an increase of 2K
    from the previous week’s unrevised average of 220.5K.  
  • Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal
  • The largest increases in initial claims for the week ending February 24 were in Massachusetts (+3,809), Rhode Island
    (+933), Oregon (+706), Kansas (+424), and Vermont (+330), 
  • The largest decreases were in California (-9,158),
    Pennsylvania (-1,971), New Jersey (-1,474), New York (-1,384), and Texas (-1,347).

The data was worse that expected but is coming off very low levels for claims last week. Article Source

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