U.S. initial claims for unemployment benefits came in higher than expectations, increasing by 21,000 to 231,000 for the week ended March 3 from the previous week's unrevised level of 210,000. Unemployment claims dropped to a 49-year low in the week that ended Feb. 24.
New unemployment claims for the week were expected to be 220,000, according to Econoday's consensus forecast.
The four-week moving average increased to 222,500 from 220,500 in the prior week. The department said claims taking procedures have not returned to normal in Puerto Rico and the Virgin Islands.
The advance seasonally adjusted insured unemployment rate decreased to 1.3% for the week ended Feb. 24 from 1.4% in the previous week. Insured unemployment declined by 64,000 to 1,870,000 in the week from the previous week's upwardly revised level of 1,934,000.
