Initial Claims Down 3rd Straight Week

Initial claims for unemployment insurance fell for the third consecutive week, the Labor Department reported Thursday, signaling a resilient labor market despite uncertain economic conditions.

For the week ending February 25, the advance figure for seasonally adjusted initial claims fell to 190,000, a decrease of 2,000 from the previous week’s unrevised level. The four-week moving average rose to 193,000, an increase of 1,750 from the previous week’s unrevised average.

The advance seasonally adjusted insured unemployment rate was unchanged at 1.1 percent for the week ending February 18. The advance number for seasonally adjusted insured unemployment during the week ending February 18 fell to 1,655,000, a decrease of 5,000 from the previous week’s revised level. The four-week moving average rose to 1,671,500, an increase of 1,250 from the previous week’s revised average.

The advance number of actual initial claims under state programs, unadjusted, totaled 201,710 in the week ending February 25, a decrease of 9,297 (-4.4 percent) from the previous week. Labor reported 196,047 initial claims in the comparable week in 2022.

The advance unadjusted insured unemployment rate was unchanged at 1.3 percent during the week ending February 18. The advance unadjusted level of insured unemployment in state programs totaled 1,898,517, a decrease of 30,164 (-1.6 percent) from the preceding week. A year earlier the rate was 1.3 percent; volume was 1,852,099.

Continued weeks claimed for benefits in all programs for the week ending February 11 fell to 1,959,037, a decrease of 20,276 from the previous week. Labor reported 1,971,285 weekly claims filed for benefits in all programs in the comparable week in 2022.