US Weekly Initial Jobless Claims at 224,000 Last Week...Below Expectations

Continuing Unemployment Claims Also Fall Short of Expectations

Last week, the number of new unemployment insurance claims in the United States slightly missed market expectations.

AP Yonhap News

According to the U.S. Department of Labor on the 27th (local time), the number of new unemployment insurance claims for the week of March 16-22 recorded 224,000, down 1,000 from the revised figure of the previous week. This also fell short of the market forecast of 225,000.

The number of continuing unemployment insurance claims, which counts those claiming benefits for at least two weeks, was 1,856,000 for the week of March 9-15. This was below both the revised figure of 1,881,000 from the previous week and the market forecast of 1,890,000.

The U.S. Federal Reserve (Fed) is monitoring employment indicators along with inflation to achieve its dual mandate of price stability and full employment. The unemployment insurance claims remain at a low level, indicating a steady recovery in the labor market. The market is closely watching the March employment report to be released by the U.S. Department of Labor on April 4.