Initial weekly US jobless claims decline by more than expected

(Sharecast News) - Unemployment claims fell by more than expected during the previous week and remained at a historically low level. According to the US Department of Labor, in seasonally adjusted terms initial unemployment claims fell by 21,000 over the week ending on 1 March to 221,000.

Consensus had been for an increase of 235,000 after 242,000 during the prior week.

The four-week moving average, which aims to smooth out the variations in the data from one week to the next, edged up by 250 to 224,250.

Secondary unemployment claims, which are those not being filed for the first time and referencing the week ending on 22 February, rose by 42,000 to 1.897m.

-- More to follow --