US Unemployment Claims Make Biggest Drop in Three Weeks

Source: US Labor Department

Jobless claims in the United States declined in the third week of February, marking the steepest drop in three weeks. DXY is up 1.08%, while Gold is up 2.62%.

• Seasonally adjusted initial claims for the week ending February 19 stood at 232,000, reflecting a 17,000 drop from the previous week’s upward revised level of 249,000.
• The latest decline is the biggest in three weeks since claims dropped by 22,000 in the week ending January 29, 2022.
• The four-week moving average fell by 7,250 to 236,250 from the previous week’s upward revised 243,500.
• The insured unemployment for the week ending February 12 was 1.1%, unchanged from the previous week.
• Insured unemployment for the week declined by 112,000 to 1.476 million from the previous week’s downward revised 1.588 million.
• The latest reading is the lowest insured unemployment level since March 14, 1970, when it was 1.456 million.
• The largest jumps were in Missouri, Ohio, Kentucky, Tennessee, and Illinois.
• The biggest drops were in Pennsylvania, California, Wisconsin, New Jersey, and Connecticut.