The number of initial claims for unemployment benefits in the United States dropped slightly last week, sending a positive signal to the job market.

The data released on Thursday showed that the number of initial jobless claims in the United States for the week ending March 1 was 221,000, lower than the market's expected 235,000 and the previous value of 242,000. At the same time, the number of continuing jobless claims in the United States for the week ending February 22 was 1.897 million, higher than the market's expected 1.88 million and the revised previous value of 1.855 million; the four-week average of initial jobless claims in the United States for the week ending March 1 was 224,300, slightly higher than the previous value of 224,000. The latest data on initial jobless claims in the United States seems to indicate that the US labor market remains robust. At a time when concerns about the future of the US economy have been growing, this data may help alleviate some of those concerns. It is worth noting that the data released on Wednesday showed that the number of ADP employment in the US only increased by 77,000 in February, the smallest increase since July 2024, far below the market's expected 140,000 and the previous value of 183,000. Nela Richardson, Chief Economist at ADP, said that policy uncertainty and slowing consumer spending may have contributed to the slowdown in hiring or layoffs last month. She stated, "Our data, combined with other recent indicators, suggest that employers are hesitant in hiring when assessing the future economic environment." Following the release of the ADP employment and initial jobless claims numbers, the market will focus on the release of another employment data on Friday - the US nonfarm payrolls report for February. According to market forecasts, nonfarm payrolls for February are expected to increase by 133,000, lower than the 143,000 in January; and the unemployment rate is expected to be 4%. Nonfarm payroll data has always been an important indicator of the health of the US economy, and the latest data on nonfarm payrolls is expected to provide further insight into the US labor market and the overall economic conditions.