Initial jobs claims back near lows
- Prior week
- Initial jobless claims 214K versus 220K estimate. Prior week was revised up 2000 from 227K to 229K
- four week moving average 223.00K versus 231.75K
- continuing claims 1.419M versus 1485M estimate. This is the lowest level since February 21, 1970
- four week moving average 1.463M vs 1505.5M. This is the lowest level for the three week average since March 21, 1970
- The largest increases in initial claims for the week ending March 5 were in New York (+16,157), California (+5,470), Kentucky (+3,148), New Jersey (+2,381), and Ohio (+1,117),
- The largest decreases were in Massachusetts (-2,315), Pennsylvania (-2,130), Missouri (-1,378), Tennessee (-1,356), and Rhode Island (-1,224).
The data this week corresponds with the BLS survey period for the employment report to be released at the start of the new month.
There is no moves will impact in the job market does a result of the Russian Ukraine situation as initial jobs claims and continuing claims continue to push lower..