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Jobless Claims Climb for the First Time in Three Weeks

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Jobless Claims

American unemployment claims grew in the first week of March, marking the first upward movement in three weeks.

Source: US Labor Department

DXY is up 0.37%, while Gold is down 0.05%.

Seasonally adjusted initial claims for the week ending March 5 stood at 227,000, up by 11,000 from the previous week’s upward revised level of 216,000. This follows a decline in the past two weeks and the first increase since the week ending February 12.

The advance seasonally adjusted insured unemployment rate for the week ending February 26 was 1.1%, unchanged from the previous rate. Insured unemployment increased by 25,000 to 1.494 million from the previous week’s 1.469 million.

The biggest jumps were recorded in Massachusetts, Rhode Island, the District of Columbia, Nevada, and Kansas. The largest drops were in Michigan, California, Florida, Ohio, and Illinois.

The four-week initial claims’ moving average increased by 500 to 231,250 from the previous week’s upward revised average of 230,750.

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