Initial Jobless Claims Jump 4.2%

Initial jobless claims increased 4.2% to 348,000 for the week ending Feb. 22, according to a Labor Department report released today.

After falling a revised 1.5% the previous week, this newest report dashed analyst projections that new claims would hover around 335,000 claims. Economists said that winter storms two weeks ago may have caused some people to delay submitting their applications until this week, temporarily boosting the figures. 

Source: Author, data from Labor Department, 

From a more long-term perspective, however, the four-week moving average flatlined at 338,250 initial claims, suggesting that the labor market isn't making any major moves. Both the latest week's claims and the four-week average fall significantly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

On a state-by-state basis, 16 states recorded a decrease of more than 1,000 initial claims for the week ending Feb. 15 (most recent available data). Georgia made the largest improvements (-7,760), citing fewer manufacturing and construction layoffs as the main reason for the dip. 

For the same period, just four states registered increases of more than 1,000 initial claims. Services sector layoffs helped push California's initial claims up 5,830, while Michigan saw a 2,130-claim bump due primarily to wholesale-trade layoffs.

-- Material from The Associated Press was used in this report. 


Read/Post Comments (2) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On February 27, 2014, at 1:41 PM, cityperson wrote:

    Im sure a spin from the White House and other liberals will be be forth coming, on this 4.2% increase number.

  • Report this Comment On February 27, 2014, at 3:44 PM, kevjm wrote:

    Numbers will be on the rise, today Feb 27 IBM is starting its $1b resource action. Comments have it at 13,000 layoffs.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2857266, ~/Articles/ArticleHandler.aspx, 8/28/2015 1:54:26 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Justin Loiseau

Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

Today's Market

updated 4 hours ago Sponsored by:
DOW 16,654.77 369.26 2.27%
S&P 500 1,987.66 47.15 2.43%
NASD 4,812.71 115.17 2.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes