Fall in moving average of US initial jobless claims show low trend level of labor market separations

In the week ended 27 February, the initial jobless claims in the US increased to 278k, rising by 6k. This was moderately more than consensus expectations of 270k. The four-week moving average of initial claims fell to 270k, as compared with 272k, indicating the low trend level of labor market separations.

For the week ending 20 February, continuing jobless claims remained almost unchanged on the week at 2.257 million, as compared with 2.254 million, keeping the four-week moving average steady at 2.257 million and insured unemployment rate at 1.7%.