US Jobless Claims Lowest Since 1969


The number of Americans filing for unemployment benefits fell by 10 thousand to 210 thousand in the week ended February 24th 2018, compared to a downwardly revised 220 thousand in the previous week. The figure surprised markets who expected a rise in claims to 226 thousand. It was the lowest level since December of 1969 when it was 202 thousand.

The previous week's level was revised down by 2,000 from 222,000 to 220,000. The 4-week moving average was 220,500, a decrease of 5,000 from the previous week's revised average. This is the lowest level for this average since December 27, 1969 when it was 219,750. The previous week's average was revised down by 500 from 226,000 to 225,500.

According to unadjusted data, the biggest declines in initial claims were seen in California (-8,742); Pennsylvania (-1,969); New Jersey (-1,554) and Texas (-1,351). Claims in Puerto Rico declined by 1,003 and in Virgin Islands by 22. Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.  

The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending February 17, an increase of 0.1 percentage point from the previous week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending February 17 was 1,931,000, an increase of 57,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 1,875,000 to 1,874,000. 

The 4-week moving average was 1,920,000, a decrease of 6,250 from the previous week's revised average. The previous week's average was revised down by 250 from 1,926,500 to 1,926,250. 

US Jobless Claims Lowest Since 1969


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/1/2018 2:29:36 PM