Thursday, February 19: Initial jobless claims in the United States declined sharply last week, signaling continued resilience in the labor market.
According to data released by the United States Department of Labor, seasonally adjusted initial claims fell by 23,000 to 206,000 for the week ending February 14. The figure came in below analysts’ expectations.
The four-week moving average, which smooths out weekly volatility, decreased by 1,000 to 219,000 from the previous week’s revised average.
For the week ending February 7, the advance seasonally adjusted insured unemployment rate stood at 1.2%unchanged from the prior week. The total number of insured unemployed individuals rose by 17,000 to 1,869,000 on a weekly basis.
Meanwhile, the four-week moving average for insured unemployment edged up by 1,000 to 1,845,250indicating relative stability despite the modest weekly increase.
The latest data reinforces signs of a steady labor market, even as broader economic conditions remain under close scrutiny by policymakers and investors.
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