Free Trial

REPEAT: MNI DATA ANALYSIS: US Jobless Claims Rise 21,000>

Repeats Story Initially Transmitted at 13:30 GMT Mar 8
By Kevin Kastner
     WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits 
rose by 21,000 to 231,000 in the March 3 week, a larger rebound than the 
10,000 gain expected after hitting a decades-low level in the previous 
week, data released by the Labor Department Thursday showed. 
     Seasonal adjustment factors had expected an increase of 5.1%, or 
10,080, in unadjusted claims in the week. Instead, unadjusted claims 
rose by 30,519 to 226,450, pay back for the larger-than-expected drop in 
the previous week. Even with the large increase, the current week's 
level is well below the 243,959 level in the comparable week a year ago. 
     The four-week moving average for initial claims, a better measure 
of the underlying trend of the data, rise by 2,000 to 222,500 in the 
March 3 week. 
     If the number of headline claims does not change next week and 
there are no revisions to data from the past four weeks, the four-week 
average will tick up by 500 as the 229,000 level in the February 10 week 
rolls out of the calculation. Even with these modest gains, the 
underlying level of claims remains extremely low. 
     The level of continuing claims fell by 64,000 to 1.870 million in 
the February 24 week, the lowest level since November. The four-week 
moving average dipped by 14,250 to 1.907 million, also a low since 
     Unadjusted continuing claims fell by 31,735 to 2.227 million, well 
below the 2.448 million level in the comparable week a year ago.
     The seasonally adjusted insured unemployment rate returned to 1.3% 
in the February 24 week after rising to 1.4% in the previous week. The 
rate was 1.5% in the same week a year earlier. 
     The unemployment rate among the insured labor force is well below 
that reported monthly by the Labor Department because claims are 
approved for the most part only for job losers, not the job leavers and 
labor force reentrants included in the monthly report. 
     ** MNI Washington Bureau: 202-371-2121 ** 

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.