Jobless claims fell 3,000 to a seasonally adjusted 223,000 for the week ending March 2, slightly less than the consensus forecast. The 4-week moving average came in at 226,250, a decrease of 3,000.
The advance seasonally adjusted insured unemployment rate fell 0.1% back to 1.2% for the week ending February 23. The advance number for seasonally adjusted insured unemployment during the week ending February 23 was 1,755,000, a decrease of 50,000.
The 4-week moving average rose slightly from the prior week’s unrevised average of 1,761,750 to 1,766,500, a gain of 4,750.
No state was triggered “on” the Extended Benefits program during the week ending February 16.
The highest insured unemployment rates in the week ending February 16 were in Alaska (3.3), New Jersey (2.8), Montana (2.7), Connecticut (2.6), Rhode Island (2.6), Pennsylvania (2.5), California (2.3), Illinois (2.3), Massachusetts (2.3), Washington (2.2), and west Virginia (2.2).
The largest increases in initial claims for the week ending February 23 were in Kentucky (+4,487), Massachusetts (+4,283), Connecticut (+943), Rhode Island (+870), and New York (+419), while the largest decreases were in California (-9,067), Washington (-5,091), Oregon (-824), Texas (-622), and Maryland (-611).
