FX.co ★ US Initial Jobless Claims Rise Less than Expected

Initial jobless claims in the US edged up by 4,000 in the third week of February to 212,000, remaining below market expectations of 215,000 and well under the average levels of the past two years. In parallel, continuing claims—which serve as a proxy for total unemployment—declined by 31,000 to 1,833,000 in the preceding week, one of the lowest readings in the past 10 months. Together, the figures continue to signal a stable US labor market, characterized by relatively few layoffs even as hiring slows. Initial claims filed by federal employees, closely watched as a gauge of potential fallout from government shutdowns, declined by 141 to 554.