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Financial News: U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

03/12/2020 - 08:35:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly showed a modest decrease in the week ended March 7th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims dipped to 211,000, a decrease of 4,000 from the previous week's revised level of 215,000.

Economists had expected jobless claims to inch up to 218,000 from the 216,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 214,000, an increase of 1,250 from the previous week's revised average of 212,750.

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