• U.S. weekly jobless claims rise more than forecast

Market news

27 February 2020

U.S. weekly jobless claims rise more than forecast

The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits increased last week, but the underlying trend remained consistent with strong labor market conditions.

According to the report, the initial claims for unemployment benefits increased by 8,000 to a seasonally adjusted 219,000 for the week ended February 22.

Economists had expected 212,000 new claims last week.

Claims for the prior week were revised upwardly to 211,000 from the initial estimate of 210,000.

Meanwhile, the four-week moving average of claims rose by 500 to 209,750 last week.

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