Initial claims for state unemployment declined by 8,000 in the Feb. 7 week to 623,000, the Labor Department reported yesterday.

The decline, though modest, came as a relief after a cumulated 161,000 increase over the previous four weeks of consecutive gains that brought the Jan. 31 level to the highest in more than 26 years.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.