US weekly jobless claims drop more than expected as labor market stabilizes
Initial applications for unemployment benefits fell to 206,000 last week as the labor market stabilized. However, continuing claims rose to 1.869 million.
Initial claims for state unemployment insurance programs fell by 23,000 to a seasonally adjusted 206,000 for the week ended February 14, the U.S. Labor Department reported. The decline was significantly larger than the 225,000 forecast by economists polled by Reuters and follows a recent peak of 232,000 recorded at the end of January.
The drop is consistent with signs of labor-market stabilization cited in recent Federal Reserve minutes. In those minutes, the majority of participants judged that labor-market conditions in the United States 
US had shown signs of stabilization, making this latest release material to ongoing assessments of hiring conditions and policy deliberations. The data's scale and timing provide added structural relevance as officials monitor the health of the economy.
US had shown signs of stabilization, making this latest release material to ongoing assessments of hiring conditions and policy deliberations. The data's scale and timing provide added structural relevance as officials monitor the health of the economy.
