Initial claims for state unemployment benefits stayed unchanged in the Feb. 14 week at 627,000 after the previous week was revised up from 623,000, the Labor Department reported yesterday.
Continuing claims after seasonal adjustment for the Feb. 7 week, at 4,987,000, again was a record high. They were boosted not only by new claims but by longer unemployment for people having previously claimed benefits, those “just not being recalled to the job,” a Labor Department analyst said. “Unemployment is lasting longer,” he added. It was the fourth consecutive week of record continuing claims.
A Market News International survey had expected the initial claims level to be 625,000 this week, with forecasts ranging from 600,000 to 660,000.
— Market News International
