Initial jobelss claims totaled 262,000 last week, crushing expectations.
Expectations were that initial claims for unemployment insurance will total 275,000 last week, up slightly from the prior week's 269,000 total but still indicating continued strength in the labor market.
This week's number takes on slightly more importance as this will serve as the reference week for the February jobs report, set for release two weeks from tomorrow.
More to come ...
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