Steady Decline in Jobless Claims

In a sign of the enduring strength of the US job market, the Department of Labor reported a decrease in seasonally adjusted initial jobless claims by 2,000 to 220,000 for the week ending March 8. This slight dip underscores the labor market's resilience amidst fluctuating economic indicators.

4-Week Moving Average Rises

Contrasting the weekly decline, the 4-week moving average of jobless claims saw a modest increase of 1,500 from the prior week's revised average, reaching 226,000. This metric, often considered a more stable measure of labor market trends, suggests a nuanced picture of employment stability.

Insured Unemployment Rate Holds Steady

The insured unemployment rate remained unchanged at 1.2% for the week ending March 1, with the number of insured unemployed individuals decreasing by 27,000 to 1,870,000. The 4-week moving average for insured unemployment slightly increased by 6,250 to 1,872,250, indicating a steady but cautious outlook on unemployment benefits claims.