Initial jobless claims for the week ending February 25 declined by 2,000 to 190,000 (consensus 197,000) and continuing jobless claims for the week ending February 18 declined by 5,000 to 1.655 million.
The key takeaway from the report remains the same, which is to say the remarkably low level of initial claims — a leading indicator — remains indicative of a tight labor market where employers are reluctant to cut jobs, fostering a concern that tightness in the labor market will lead to sticky wage-based inflation pressures.