US Initial Jobless Claims (Feb 21, 2026): Labor Market Holds Near 212K

Source: U.S. Employment and Training Administration via FRED.

The long-term chart highlights how current readings near 200K–225K are historically consistent with a healthy labor market.

Even with recent weekly volatility, claims remain well below levels typically associated with economic stress.

What Were Initial Jobless Claims This Week?

The advance figure for seasonally adjusted initial jobless claims came in at 212,000, an increase of 4,000 from the prior week’s revised level of 208,000.

The 4-week moving average increased to 220,250, up 750 from the prior week.

Weekly claims remain in the lower end of the post-pandemic range, suggesting layoffs are not accelerating in a meaningful way.

Continued Claims and Insured Unemployment

The number of individuals continuing to receive unemployment benefits (insured unemployment) fell to 1,833,000, a decrease of 31,000 from the prior week.

The insured unemployment rate remained unchanged at 1.2%.

Continued claims provide confirming evidence of labor market conditions. While not a leading indicator like initial claims, they help validate whether layoffs are becoming persistent.

At present levels, insured unemployment remains stable.

Why Initial Claims Matter

Initial jobless claims are one of the most closely watched leading economic indicators. Because they are released weekly, they offer near real-time insight into:

• Layoff activity
• Labor market stress
• Recession risk
• Wage pressure trends

Sustained moves above 250K–300K have historically signaled meaningful deterioration in labor conditions. Current readings remain comfortably below those thresholds.

Market Implications

For equity markets, stable claims reinforce the narrative of a resilient labor market.

For bond markets, continued low claims may support the view that employment remains firm, limiting downside risks to growth in the near term.

For the Federal Reserve, jobless claims are part of the broader labor market mosaic. As long as claims remain contained, policy discussions will likely focus more heavily on inflation and wage data.

Bottom Line

Initial jobless claims rose modestly to 212,000, but remain near historically low levels. The broader labor market continues to show resilience, with no immediate signs of widespread layoffs.

Weekly volatility is normal. Trend deterioration is what matters — and for now, that signal has not appeared.