Unemployment Claims Up 13K, Higher 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 24, initial jobless claims were at a seasonally adjusted level of 215,000, an increase of 13,000 from the previous week's revised figure. The latest reading is higher than the forecast of 209,000.

Here is the opening statement from the Department of Labor:

In the week ending February 24, the advance figure for seasonally adjusted initial claims was 215,000, an increase of 13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 201,000 to 202,000. The 4-week moving average was 212,500, a decrease of 3,000 from the previous week's revised average. The previous week's average was revised up by 250 from 215,250 to 215,500.