Unemployment Claims Down 12K, Lower Than Expected
Initial jobless claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. In the week ending February 17, initial jobless claims were at a seasonally adjusted level of 201,000, a decrease of 12,000 from the previous week's revised figure. The latest reading is lower than the forecast of 217,000.
Here is the opening statement from the Department of Labor:
In the week ending February 17, the advance figure for seasonally adjusted initial claims was 201,000, a decrease of 12,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 212,000 to 213,000. The 4-week moving average was 215,250, a decrease of 3,500 from the previous week's revised average. The previous week's average was revised up by 250 from 218,500 to 218,750.