JOBLESS CLAIMS AVERAGE UP, TOTAL CLAIMS JUMP 21,000

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JOBLESS CLAIMS AVERAGE UP, TOTAL CLAIMS JUMP 21,000

March 08 2018

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The US four-week moving average of initial claims for unemployment insurance rose to 222,500 last week, up 2,000 from the previous week’s unrevised average, the US Department of Labor reported.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended March 3 rose to 231,000, up 21,000 from the previous week’s unrevised level.

Claims-taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.

MarketWatch reported US jobless claims rose sharply in early March, just one week after dropping to the lowest level since 1969. Jobless claims are a bit unpredictable in February because of winter weather and other seasonal quirks, but the latest swing doesn’t alter the picture of a vibrant employment scene. Economists surveyed by MarketWatch had forecast claims to total 220,000.


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