Updated: 14-Mar-24 09:39 ET
|
|
Updated: 14-Mar-24 09:39 ET |
|
Highlights
- Initial jobless claims for the week ending March 9 decreased by 1,000 to 209,000 (Briefing.com consensus 218,000).
- Continuing jobless claims for the week ending March 2 increased by 17,000 to 1.811 million, although that increase was from a sharply lower revision for the prior week to 1.794 million from 1.906 million.
Key Factors
- The four-week moving average for initial claims decreased by 500 to 208,000.
- The four-week moving average for continuing claims increased by 2,000 to 1,799,250. The previous week's average was revised down by 91,000 to 1,797,250.
- The total number of continued weeks claimed for benefits in all programs for the week ending February 24 was 2,143,864, an increase of 22,432 from the previous week. In the same week a year ago, there were 2,000,248 weekly claims filed for benefits in all programs.
Big Picture
- The key takeaway from the report is that it is suggestive of a labor market that, overall, remains in good shape given the low level of initial claims -- a leading indicator -- and the much improved continuing jobless claims number. (Note: this week's report reflects the annual revision to the weekly unemployment claims seasonal adjustment factors from 2019 forward.)
Category |
Mar 9 |
Mar 2 |
Feb 24 |
Feb 17 |
Feb 10 |
Initial Claims |
209K |
210K |
213K |
202K |
213K |
4-Wk Moving Avg |
209K |
210K |
212K |
216K |
219K |
Continued Benefits |
|
1811K |
1794K |
1898K |
1860K |
4-Wk Moving Avg |
|
1841K |
1860K |
1878K |
1877K |