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Weekly jobless claims rise above Dow Jones estimate

First-time unemployment claims for the week ending March 27 climbed to 719,000, above the 675,000 estimate set by Dow Jones. Despite the rise, the four-week moving average fell to its lowest level since March 14, 2020.

In the week ending March 27, the advance figure for seasonally adjusted initial claims was 719,000, an increase of 61,000 from the previous week’s revised level.

The previous week’s level was revised down by 26,000 from 684,000 to 658,000. The 4-week moving average was 719,000, a decrease of 10,500 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500.

The previous week’s average was revised down by 6,500 from 736,000 to 729,500. The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending March 20, unchanged from the previous week’s unrevised rate.

Advance number for seasonally adjusted insured unemployment during the week ending March 20 was 3,794,000, a decrease of 46,000 from the previous week’s revised level. The previous week’s level was revised down by 30,000 from 3,870,000 to 3,840,000.