Basically a mixed picture on the jobless claims front.
Initial claims fell slightly to 462,000 from last week but are worse than the 456,000 that were expected.
Continuing claims ticked up higher to over 4.55 million.
Stocks are dipping on the news.
In the week ending March 6, the advance figure for seasonally adjusted initial claims was 462,000, a decrease of 6,000 from the previous week’s revised figure of 468,000. The 4-week moving average was 475,500, an increase of 5,000 from the previous week’s revised average of 470,500.
The advance seasonally adjusted insured unemployment rate was 3.5 per cent for the week ending Feb. 27, unchanged from the prior week’s unrevised rate of 3.5 per cent.
The advance number for seasonally adjusted insured unemployment during the week ending Feb. 27 was 4,558,000, an increase of 37,000 from the preceding week’s revised level of 4,521,000. The 4-week moving average was 4,581,000, unchanged from the preceding week’s revised average of 4,581,000.
The fiscal year-to-date average of seasonally adjusted weekly insured unemployment, which corresponds to the appropriated AWIU trigger,