US Jobless Claims Make a U-Turn, Rises by 11,000

Source: Department of Labor

The US recorded 227,000 jobless claims in the week that ended March 5, up by 11,000 from the previous week. SPY is down -0.82%, DXY is up +0.38%.

• On a four-week moving average, the jobless claims increased by 500 to 231,250.
• The continuing claims increased by 25,000 to 1.494 million in the week to February 26. The claims fell by 31,250 to 1.507 million, the lowest since March 28, 1970, on a four-week moving average. 
• The claims under various state programs increased by 11.2% or 22,025 to 218,072 in the week of March 5. The increase was higher than the expected gain of 5.6% or 10,954.
• The continuing claims under various state programs rose by 3.5% or 64,079 to 1.916 million. The increase was higher than the expected gain of 2.1% or 39,268.
• The initial claims rose the highest in Massachusetts, Rhode Island, the District of Columbia, Nevada, and Kansas. The claims fell the largest in Michigan, California, Florida, Ohio, and Illinois.