Economic Buzz: US unemployment claims decrease to 206,000

First-time claims for U.S. unemployment benefits fell by much more than expected in the week ended February 14th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims slid to 206,000, a decrease of 23,000 from the previous week's revised level of 229,000.

The Labor Department said the less volatile four-week moving average also edged down to 219,000, a decrease of 1,000 from the previous week's revised average of 220,000.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 17,000 to 1.869 million in the week ended February 7th.

The four-week moving average of continuing claims also inched up to 1,845,250, an increase of 1,000 from the previous week's revised average of 1,844,250.

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