US Jobless Claims Edged Higher to 212,000 in Holiday Week (2)

Applications for US unemployment benefits rose by less than expected last week, indicating that layoffs remain relatively low.

Initial claims increased by 4,000 to 212,000 in the week ended Feb. 21, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 216,000. The period included the Presidents’ Day holiday.

Continuing claims, a proxy for the number of people receiving benefits, declined to 1.83 million in the previous week.

Claims data can be volatile around holidays. However, the current level of initial filings is relatively subdued, adding to ...