US Jobless Claims Increase by 20000 to 243000

US Jobless Claims Increase by 20000 to 243000

Thursday's claims report also showed the number of people still receiving benefits after an initial week of aid fell 6,000 to 2.06 million in the week ended February 25.

With the closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a rebound in first-time claims for USA unemployment benefits in the week ended March 4th.

Economists polled by Reuters had estimated initial claims to rise to 235,000 in the latest week.

Weekly jobless claims, or first-time claims for unemployment benefits reported by the Labor Department. According to a Labor Department analyst, there were no special factors impacting last week's claims data.

Claims for benefits have now been below 300,000 for 105 straight weeks, longest such streak since 1970.

The four-week moving average of continuing claims also dipped to 2,065,500, a decrease of 5,250 from the previous week's revised average of 2,070,750.

Though it sees volatile movements from week to week, the unemployment insurance numbers can be used to gauge the prevalence of layoffs and the general health of the employment market.

The data will maintain expectations of a very strong labour market and markets will be extremely confident that the Fed will push ahead with an increase in the Fed Funds rate at next week's policy meeting. Trader are closely watching the nonfarm payroll tomorrow.



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