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U.S. Jobless Claims Tick Down Last Week [View all]
U.S. Jobless Claims Tick Down Last Week
March 2, 2023 at 8:48 a.m. ET
By Bryan Mena
U.S. applications for unemployment benefits edged lower last week, reflecting a persistently tight labor market.
Initial jobless claims, a proxy for layoffs, decreased by 2,000 to a seasonally adjusted 190,000 last week, the Labor Department said Thursday. Weekly claims have remained below the 2019 prepandemic average of about 220,000 since the start of the year.
The four-week moving average of weekly claims, which smooths out volatility, rose slightly to 193,000.
Thursday's report showed continuing claims, a proxy for the total number of ongoing unemployment benefits payments, decreased by 5,000 to 1.655 million in the week ended Feb. 18. Continuing claims are reported with a one-week lag.
The level of continuing claims is somewhat elevated from a low point of about 1.3 million last spring. Modestly elevated continuing claims could be a sign some beneficiaries are taking longer to find new jobs.
Write to Bryan Mena at bryan.mena@wsj.com
March 2, 2023 at 8:48 a.m. ET
By Bryan Mena
U.S. applications for unemployment benefits edged lower last week, reflecting a persistently tight labor market.
Initial jobless claims, a proxy for layoffs, decreased by 2,000 to a seasonally adjusted 190,000 last week, the Labor Department said Thursday. Weekly claims have remained below the 2019 prepandemic average of about 220,000 since the start of the year.
The four-week moving average of weekly claims, which smooths out volatility, rose slightly to 193,000.
Thursday's report showed continuing claims, a proxy for the total number of ongoing unemployment benefits payments, decreased by 5,000 to 1.655 million in the week ended Feb. 18. Continuing claims are reported with a one-week lag.
The level of continuing claims is somewhat elevated from a low point of about 1.3 million last spring. Modestly elevated continuing claims could be a sign some beneficiaries are taking longer to find new jobs.
Write to Bryan Mena at bryan.mena@wsj.com
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