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Jobless Claims: Modest Increase, Trend Remains Solid

March 8, 2018
Bottom Line: Claims rose last week after hitting record lows in late February. The 4-week average is now at 223k, still well below the 13-week average that is now 232k, indicating the labor market trends are still strong.

Jobless Claims ROSE by 21k during the week ended March 3rd, 231k, compared with market expectations for an increase to 220k. The 4-week average ROSE by 2.0k to 223k and the 13 week average FELL by 0.4k to 232k.

Continuing Claims FELL by 64k during the week ended February 24th to 1,870k, after the prior week was revised slightly higher from 1,875k to 1,934k.The 4-week average FELL by 14k to 1,907k.

On a non-seasonally adjusted basis, Continuing Claims FELL by 32k to 2,227k during the week ended February 17th.

The Insured Jobless Rate FELL by 0.1% to 1.3% during the week ended February 24th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.