Signaling persistent labor market weakness, first-time applications for state unemployment benefits for the week ending Feb. 21 rose 36,000 to a seasonally adjusted 667,000. The level of initial claims is the highest since October 1982 and up 86% from the same period in the prior year. The four-week average of new claims, which measures the underlying trend, rose 19,000 to 639,000 - also the highest level since October 1982, and up 84% from the prior year. For the week ending Feb. 14, the number of people collecting benefits reached a record high, rising 114,000 to 5.11 million - a level that is 86% higher than in the prior year. The four-week average of continuing claims was also a record, gaining 89,250 to 4.93 million - a level that is 80% higher than in the prior year. The insured unemployment rate reached the highest level since July 1983, rising to 3.8% from 3.7%. The data go back to 1967.

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