US: Weekly Initial Jobless Claims rise to 211K

The US Department of Labor (DOL) reported 211,000 initial unemployment claims in the week ending March 4, according to weekly statistics released on Thursday. This print follows the previous week’s print of 190,000 and was lower than the market forecast of 195,000.

The advance seasonally adjusted insured unemployment rate was 1.2%, and the 4-week moving average was 197,000, an increase of 4,000 from the previous week’s unrevised average, according to the magazine.

“The advance number for seasonally adjusted insured unemployment during the week ending February 25 was 1,718,000, an increase of 69,000 from the previous week’s revised level,” the DOL noted.