US weekly jobless claims
The latest initial jobless claims report shows a decrease in unemployment benefit applications for the week ending February 8, 2025:
Initial jobless claims fell by 7,000 to 213,000, which was better than analysts' expectations.
This decrease follows an increase in the previous week, where claims rose to 220,000.
The four-week moving average, which smooths out weekly volatility, decreased by 1,000 to 216,000.
Continuing claims, which measure ongoing unemployment, dropped by 36,000 to 1.85 million for the week ending February .
Geographically, the largest increases in initial claims were observed in New York, California, and Georgia, while New Jersey and Massachusetts saw the biggest decreases.
This data suggests that the U.S. labor market remains relatively stable, with the decline in jobless claims indicating resilience in employment conditions despite recent fluctuations.
Importance of the report
The initial jobless claims report is an important economic indicator that tracks the number of n…