Source: Sharecast
Initial jobless claims fell by 6,000 to 219,000 last week, down from the previous week's upwardly revised print of 225,000 and beating expectations for a print of 225,000, while continuing claims rose by 56,000 to 1.90m for the highest reading seen since November 2021.
The four-week moving average, which aims to smooth out week-to-week volatility, decreased by 1,250 week-on-week to 223,000.
Unemployment claims filed under programs for Federal government employees fell by 257 to 564. However, reports that many of Elon Musk's Department of Government Efficiency firings were said to have been done with severance packages, preventing employees from claiming benefits immediately after termination.
The advance seasonally adjusted insured unemployment rate was 1.3%, an increase of 0.1 percentage point from the previous week's unrevised rate.
Reporting by Iain Gilbert at Sharecast.com