Jobless Claims: Lowest Since 1969

Bottom Line: Claims fell again last week, hitting their lowest levels since December 6, 1969. The trend in labor markets remains solid as the the 4-week average is at 221k, below the 13-week average that is now 233k. There were no major seasonal adjustments, but the Department of Labor once again noted that claims taking procedures in Puerto Rico and the USVI have still not returned to normal. Jobless Claims FELL by 10k during the week ended February 24th, 210k, compared with market expectations for an increase to 225k.The 4-week average FELL by 5.0k to 221k and the 13 week average FELL by 2.2k to 233k. Continuing Claims ROSE by 57k during the week ended February 17th to 1,931k, after the prior week was revised slightly lower from 1,875k to 1,874k.The 4-week average FELL by 6k to 1,920k. On a non-seasonally adjusted basis, Continuing Claims FELL by 5k to 2,255k during the week ended February 10th. The Insured Jobless Rate ROSE by 0.1% to 1.4% during the week ended February 17th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.