Jobless Claims Fall for Week of February 19th 2011
Less people filed for unemployment than economists expected last week. According to the U.S. Department of Labor, 391,000 individuals claimed benefits during the week of February 19th. Economists, on average expected 405,000 filings.
The unemployment measure has been volatile in past weeks, likely fluctuating due to severe winter weather throughout the country. Checking in on the 4-week average for better perspective, there appears to be a downtrend occurring, which suggests an improving job market.
