Drop in Jobless Claims Boosts U.S. Consumer Confidence
In the week ending February 14, the advance figure for seasonally adjusted initial claims was 283,000, a decrease of 21,000 from the previous week’s unrevised level of 304,000. The 4-week moving average was 283,250, a decrease of 6,500 from the previous week’s unrevised average of 289,750.
The advance seasonally adjusted insured unemployment rate was 1.8 percent for the week ending February 7, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 7 was 2,425,000, an increase of 58,000 from the previous week’s revised level.
According to a related Bloombergreport, Americans have become more optimistic in recent months as fuel prices plunged, firings abated and payroll gains accelerated, making it more likely spending will strengthen.
To view the full Department of Labor report, click here.