US jobless claims fall following three straight weeks of increases

First-time jobless claims fell at a faster than expected clip in the week ended 19 February following three consecutive weeks of increases.

According to the Labor Department, 232,000 Americans filed initial jobless claims last week, down from the 248,000 reported a week earlier and slightly better than the expected print of 235,000.

Continuing claims came in at 1.47m, down from 1.59m in the prior week to a new pandemic-era low, while the four-week moving average decreased by 7,250 to 236,250.

Meanwhile, the advance seasonally adjusted insured unemployment rate was 1.1% for the week ended 12 February, unchanged from the previous week's revised rate