Initial unemployment claims were well below.>

US DATA: Initial unemployment claims were well below estimates in the 

Feb 24 holiday wk, continuing to reach new depths. Claims were -10k 

to 210k, hitting the lowest point since the Dec 6, 1969 wk.

- The 4-wk moving avg -5,000 to 220,500 and could fall even further next 

wk as the 223k level in Feb 3 wk rolls out. 

- Unadj claims -16,316 to 195,897 in the current wk, a larger decrease 

than seasonal factors expected, and below the year ago level of 212,829.

- Claims were estimated in Maine and have still not returned to normal 

in Puerto Rico and the Virgin Islands. However, the lack of a significant 

number of estimates suggests that the headline number will not be sharply 

revised next wk.

- Continuing claims +57k to 1.931m in the Feb 17 employment survey wk, 

partially recovering the previous week's dip. The level of continuing 

claims is down 9,000 from the 1.940 million level in the January 13 

employment survey wk.