US Initial Jobless Claims Unexpectedly Fall

Initial jobless claims in the US fell by 8,000 from the previous week to 205,000 in the second week of March, firmly below expectations of a 2,000 increase. Likewise, continuing jobless claims, which serve as proxy for outstanding unemployment in the US, rose only slightly to 1,857,000 in the previous week to remain their pullback since November of last year. The results contrasted with the weak signals in the latest jobs report by the BLS, consolidating the view of a low firing labor market. Initial claims filed by federal employees, which have been under scrutiny as markets measure he impact of government shutdowns, rose by 26 to 643.

Initial jobless claims in the US fell by 1,000 from the previous week to 213,000 in the first week of March, slightly below expectations of 215,000 and broadly in line with levels seen over the past three weeks. Likewise, continuing jobless claims, which serve as proxy for outstanding unemployment in the US, fell by 21,000 to 1,850,000 in the last week of February. The results contrasted with the weak signals in the latest jobs report by the BLS, consolidating the view of a low hiring but low firing labor market. Initial claims filed by federal employees, which have been under scrutiny as markets measure he impact of government shutdowns, rose by 88 to 617.

Initial jobless claims in the US were unchanged from the previous week at 213,000 on the last week of February, slightly under market expectations of 215,000 to remain firmly below averages from the last two years. In turn, continuing jobless claims, which serve s a proxy for outstanding unemployment in the US, rose by 46,000 in the earlier week to 1,868,000, ahead of market expectations of 1,850,000. The data continued to reflect stability in the US labor market despite amid a low-firing backdrop in combination with slowing hiring. Initial claims filed by federal employees, which have been under scrutiny as markets measure he impact of government shutdowns, fell by 25 to 529.