Daily Update (Source: RBC Financial Group
US initial jobless claims fell in the week ending March 1
Mar 6, 2014
- US initial claims fell 26,000 to 323,000 in the week ending March 1, 2014 following an upwardly revised 349,000 (was 348,000) reading in the previous week. Markets had expected a modest decline to 336,000 in the latest week.
- The four-week moving average of initial claims, which helps smooth out some of the weekly volatility in the measure, edged downward to 336,500 from 338,500 in the previous week. Continuing claims for the week ending February 22, 2014 fell 8,000 to 2,907,000.
- The solid decline in initial claims in the latest week was encouraging because it brought claims to their lowest level since late November 2013.
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