The estimates of analysts surveyed by BridgeNews put initial jobless claims for the latest week ranged from 365,000 to 380,000. For the week ended March 10, initial claims rose 5,000 to a seasonally adjusted 380,000, originally reported as 375,000, Labor said. For the same week, the 4-week moving average for new claims was 365,5000, originally 364,250 per week.
In new data for the week ended March 10, 2.473 million people were reported claiming unemployment benefits under regular state programs, down 10,000 from the previous week's revised 2.483 million, Labor said. The 4-week moving average for the week for continuing claims rose 30,500 to 2,448,750.
The seasonally adjusted rate of insured unemployment during the week ended March 10 dropped to 1.9 from the previous week's 2.0%. The ratio represents people claiming benefits as a percentage of the workforce potentially eligible for these benefits.
Data on continuing claims and the insured unemployment rate are reported with a one-week delay. End