WASHINGTON — Initial claims U.S. state unemployment benefits fell by 10,000 to 210,000 in the February 24 holiday week, well below the 226,000 level expected and the lowest level since the December 6, 1969, week.
The four-week moving average fell by 5,000 to the lowest level seen since the December 27, 1969 week, as the 230,000 level in the January 27 week dropped out of the equation. The average would decline further next week if there is no change to the headline number as the 223,000 level in the February 3 week drops out.
Continuing claims rose by 57,000 to 1.931 million in the February 17 employment survey week, but was still down 9,000 from the 1.940 million level in the January 13 employment survey week. The data still suggest that labor markets remain tight and that workers are finding jobs fairly quickly.
