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Jobless claims decline
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February 24, 2000: 8:57 a.m. ET
Initial filings for state unemployment benefits drop off by some 7,000
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NEW YORK (CNNfn) - The number of Americans filing new claims for unemployment benefits fell to 278,000 for the week ended Feb. 19 from a
revised 285,000 the week before, the U.S. Department of Labor said
Thursday. Economists surveyed by Reuters had forecast 286,000 initial claims in the Feb 19 week.
Claims near or below the 300,000 level are consistent with a tight job
market.
The four-week moving average of claims, which generally provides a more
accurate picture of jobless trends, rose to 286,500 for the Feb. 19 week from a revised 283,500 the week before.
Continued claims were reported at 2,092,000 for the Feb. 12 reporting period, the latest data available.
One state, Wisconsin, reported an increase in claims of more than 1,000 in the week ended Feb 12, the latest period for which data is available. Wisconsin said it had more layoffs in the construction, manufacturing, trade and service industries.
Nineteen states reported a decrease in claims of more than 1,000 in the week ended Feb 12. Those with the largest change in claims were California, Pennsylvania, Illinois, New Jersey, Missouri, Arkansas, Tennessee, and Oklahoma. 
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