US initial jobless claims fell -9k to 202k in the week ending March 27, coming in below expectations of 215k and reinforcing the picture of a still-tight labor market. The four-week moving average also declined -3k to 207.75k.
However, continuing claims painted a slightly softer picture, rising 25k to 1.841m in the week ending March 21. This suggests that while layoffs remain limited, it is taking slightly longer for displaced workers to find new employment.
Still, the broader trend remains constructive. The four-week average of continuing claims fell -7.5k to 1.839m, the lowest level since late September 2024.
