Economy

Weekly jobless claims rise less than expected despite weather impact

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Weekly jobless claims edged higher last week but rose less than expected for an economy struggling to shake off impacts from a pandemic that has been around now for nearly a year.

The Labor Department on Thursday reported that first-time filings for unemployment insurance in the week ended Feb. 27 totaled a seasonally adjusted 745,000, a touch below the Dow Jones estimate of 750,000. The total was a slight uptick from the previous week’s upwardly revised 736,000.

Unseasonably harsh winter storms in Texas took a toll on the labor market, resulting in an increase of 17,769 filings for the state, according to unadjusted data. Ohio and New York also saw considerable increases in…



Source cnbc.com

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