• U.S. weekly jobless claims total 861,000

Market news

18 February 2021

U.S. weekly jobless claims total 861,000

The data from the Labor Department revealed on Thursday the number of applications for unemployment unexpectedly rose last week.

According to the report, the initial claims for unemployment benefits increased by 13,000 to 861,000 for the week ended February 13. This was the highest reading since the week ended January 17. 

Economists had expected 765,000 new claims last week.

Claims for the prior week were revised upwardly to 848,000 from the initial estimate of 793,000.

Meanwhile, the four-week moving average of jobless claims fell to 833,250 from an upwardly revised 836,750 in the previous week.

Continuing claims decreased to 4,494,000 from an upwardly revised 4,558,000 in the previous week.

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