Analysis: U.S. Initial Jobless Claims Slightly Higher During President's Day Holiday Week but Below Expectations

Odaily News According to data released last week, the number of Americans filing for unemployment benefits rose less than expected, indicating that layoffs remain at a low level. Initial jobless claims for the week ending February 21 increased by 4,000 to 212,000, below the median forecast of 215,000. The survey period included the President's Day holiday. Continuing claims fell to 1.83 million. Claims data can be volatile around holidays. However, the current level of initial claims remains relatively low, aligning with other recent data suggesting some stabilization in the labor market. The February employment report, scheduled for release on March 6, will help policymakers assess whether January's strong job growth and lower unemployment rate were temporary fluctuations or signs of sustained improvement. (Jin10)