"In the week ending March 16, the advance figure for seasonally adjusted initial claims was 221,000, a decrease of 9,000 from the previous week's revised level," the U.S. Department of Labor announced on Thursday.

Key takeaways from the press release

  • The 4-week moving average was 225,000, an increase of 1,000 from the previous week's revised average.
  • The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending March 9.
  • The advance number for seasonally adjusted insured unemployment during the week ending March 9 was 1,750,000, a decrease of 27,000 from the previous week's revised level.