The number of initial jobless claims in the United States slightly decreased last week, signaling a robust labor market
The number of initial jobless claims in the United States for the week ending March 1 was 221,000, lower than the market expectation of 235,000 and the previous value of 242,000, indicating a robust labor market. The number of continuing jobless claims was 1.897 million, higher than expected. ADP data showed that employment increased by only 77,000 in February, far below expectations. The market is focused on the upcoming February non-farm payroll report, which is expected to show an increase of 133,000 jobs and an unemployment rate of 4%
According to the Zhitong Finance APP, data released on Thursday showed that the number of initial jobless claims in the United States for the week ending March 1 was 221,000, lower than the market expectation of 235,000 and the previous value of 242,000. Meanwhile, the number of continuing jobless claims in the United States for the week ending February 22 was 1.897 million, higher than the market expectation of 1.88 million and the revised previous value of 1.855 million; the four-week average of initial jobless claims for the week ending March 1 was 224,300, slightly higher than the previous value of 224,000.
The latest data on initial jobless claims in the United States seems to indicate that the U.S. labor market remains robust. Amid rising concerns about the outlook for the U.S. economy, this data may help alleviate some of those worries.
Additionally, it is worth mentioning that data released on Wednesday showed that the U.S. February ADP employment number, known as the "little non-farm," only increased by 77,000, the smallest increase since July 2024, far below the market expectation of 140,000 and the previous value of 183,000. ADP Chief Economist Nela Richardson stated that policy uncertainty and a slowdown in consumer spending may have led to layoffs or a slowdown in hiring last month, "Our data, combined with other recent indicators, suggests that employers are hesitant to hire as they assess the future economic environment."
After the release of the "little non-farm" and initial jobless claims numbers, the market will focus on another employment data set to be released on Friday—the U.S. February non-farm payroll report. According to market predictions, the U.S. February non-farm payrolls are expected to increase by 133,000 jobs, down from 143,000 in January; the unemployment rate is expected to be 4%. Non-farm payroll data has always been an important indicator of the health of the U.S. economy, and the latest non-farm payroll data is expected to provide the market with further insights into the state of the U.S. labor market and economy