Analysis: U.S. initial jobless claims rose slightly during the Presidents' Day holiday week but were lower than expected.

The number of Americans filing for unemployment benefits last week rose less than expected, suggesting that layoffs remain at a low level. Initial jobless claims in the U.S. rose by 4,000 to 212,000 in the week ending February 21, compared with a median forecast of 215,000. The survey period included the Presidents' Day holiday. Continuing jobless claims fell to 1.83 million. Claims data can fluctuate before and after holidays. However, the current relatively low number of initial jobless claims is consistent with other recent data indicating a stabilizing labor market. The February jobs report, to be released on March 6, will help policymakers assess whether the strong job growth and decline in the unemployment rate in January were merely temporary changes or signs of continued improvement. (Jinshi)