Initial jobless claims unexpectedly fell to a 5-week low as the labor market continues to show signs of strength, according to the latest weekly survey from the Department of Labor.
- The advance figure for seasonally adjusted initial claims was 201,000 for the week ending Ferbruary 17th, a decrease of 12,000 from the previous week’s revised level and the lowest level since Jan 14th.
- Economists were actually expecting a slight increase to 218k.
Continuing Claims. The advance number for seasonally adjusted insured unemployment fell to 1.862M during the week ending February 10th, down 27,000 from the previous week’s revised level and the lowest level since January 14th.
- Economists were expecting a much smaller drop to 1.885M.
North Carolina. Seasonally adjusted initial claims filed in North Carolina were 3,396 for the week ending February 10th, down 195 from the previous week and the lowest level in the last three weeks.
- Claims are up 68 from the same time last year.