New filings for U.S. unemployment benefits rose slightly last week, according to data released Thursday by the Labor Department, pointing to continued resilience in the labor market.
Initial jobless claims totaled 212,000 for the week ended February 21, increasing by 4,000 from the prior week’s revised figure of 208,000.
The reading came in below economists’ forecasts, which had projected claims would rise to 215,000 from the previously reported level of 206,000.
Meanwhile, the four-week moving average — a measure designed to smooth weekly volatility — inched up to 220,250. That marked an increase of 750 compared with the prior week’s revised average of 219,500, suggesting only modest changes in underlying labor market conditions.