Weekly Jobless Claims Jump to 242,000, More Than Expected in Latest Sign of Economic Softening

Initial Filings for UNEMPLIONFITS HIT ANOAR LAST Week in another Potential Signs of Weakness in the Labor Market.

Jobless Claims for the Week Ending Feb. 22 totaled a seasonally adjusted 242,000, up 22,000 from the Previous Week’s Revised Level and Higher Than the Dow Jones Estimate for 225,000, According to a labor department report Thursday.

The level of claims mathed the highhest since Early October 2024 and Comes AMID Questions Over Browder Economic Growth and Worrying Signs in Recent Consumer Signment Surveys.

President Donald Trump Has Been Taking Aggressive Measures to Reduce The Federal Workforce through Elon Musk’s Department of Government of Government Efficiency Advisory Board. The efforts so far have resulted in three jobs cuts and are expected to continue.

In Washington, DC, New Claims Totled 2,047, an increase of 421, or 26%, according to numbers not adjusted for seasonal factories. That is the largest number for the City Since March 25, 2023, According to Labor Department Records, and is consistent with a surge that began in early january.

However, the claims trend does not appear to be spores to the surrounding area. Virginia and Maryland Both Saw Small Declines on the Week.

Continuing claims, which run a week behind, showed a small decrease and study at 1.86 million. However, the Four-White Moving Average of Claims, which helps smooth out weekly Volatily, Rose Sharply to 224,000, an increase of 8,500.

There was notable increases in the new england area.

In massachusetts, filings totled 9,179, an increase of 3,731 from a week ago, while claims in rhode island more than Tripled to 2,964.

In other economic news on Thursday, orders for long-lasting good as aircraft, appliances and computers Unexpertedly jumped 3.1% in January, a potential Sign of Atampts to make up atampts to make up. Ahead of an acceleration in tariffs.

The Census Bureau Reported that Increase in So-Called Durable Goods Followed A 1.8% Declowed in December in December that was revised from the previous estimate of a 2.2% decrease. The down downs forecast was for a 2% increase.

However, excluding transportation, which leaped 9.8% Higher, Orders essentially was flat. Orders rose 3.5% when excluding defense.

Trump Announced Chiursday on Social Media That 25% duties on mexico and canada Will take effect on March 4, The same day that china will face an additional 10% charge.

Also, The Commerce Department said the us economy grew at a 2.3% annualized pace in the fourth Quarter of 2024, in a second estimate that was unchanged from the Initial Figure.

Price Indexes with the report that Federal Reserve Follows Follows Closely Showed Slight Upward Revisions from the Previous Estimates from the Previous Estimates. The Personal Consumption Expenditures Price Index for the Quarter Indicated A 2.4% Gain, or 2.7% on Core when extra was and energy.