US initial jobless claims fell by 12,000 in the week ended Feb. 17 to a total of 201,000, the US Department of Labor reported today. The previous week's level was revised up by 1,000.

Claim were at their lowest since the week of Jan. 13.

Economists polled by Reuters had forecast 218,000 claims for the latest week. Claims are hovering at historically low levels despite high-profile layoffs at the start of the year, according to Reuters.

Meanwhile, the four-week moving average of initial claims decreased by 3,500 in the latest week to 215,250. The previous week’s average was revised upward by 250.