New jobless claims remain at "near historic lows"

Initial jobless claims did rise 10,000 in the February 20 week but remain near historic lows, at 272,000. The 4-week average is down slightly and is also at 272,000, a level that is down more than 10,000 from January's readings which points to strength for the monthly February employment report.

Continuing claims, in lagging data for the February 13 week, fell 19,000 to 2.253 million with the 4-week average down 5,000 to 2.257 million. These readings show a bit less improvement from February. The unemployment rate for insured workers is steady at only 1.7 percent.

There are no special factors in today's data which, despite the lack of improvement in continuing claims, are likely to firm expectations for a solid February employment report.