The data from the Labor Department revealed on Thursday the number of
applications for unemployment decreased more than anticipated last week.
According to the report, the initial claims for unemployment benefits declined
by 17,000 to 232,000 for the week ended February 19.
Economists had foreseen 235,000 new claims last week.
Claims for
the prior week were revised upwardly to 249,000 from the initial estimate of 248,000.
Meanwhile, the four-week moving average of jobless claims declined to 236,250
from an upwardly revised 243,500 (from 243,250) in the previous week. This was
the lowest count in five weeks.
As for continuing claims, they dropped to 1,476,000 from a downwardly
revised 1,588,000 (from 1,593,000) in the previous week. This was the lowest
total since the week ended March 14, 1970.