Jobless claims tick up in latest week

The numbers: Initial jobless benefit claims rose by 13,000 to 215,000 in the week ended Feb. 24, the U.S. Labor Department said Thursday.  

Economists polled by The Wall Street Journal had estimated new claims would rise to 210,000.

Key details:  The number of Americans already collecting jobless benefits in the week ended Feb. 17 rose by 45,000 to 1.91 million.

Big picture: Claims have been bouncing around low levels. Economists detect some softening in the labor market and don’t expect claims to remain so low in coming weeks. Stepping back, the data suggests continued solid economic growth and stable unemployment.

Market reaction: Stocks

were set to open lower on Thursday. The yield on the 10-year Treasury note
rose to 4.291%.

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