Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, decreased by 111,000 to 730,000. Just like we saw with Mortgage applications, most of this drop is likely due to the weather conditions across the US and the crisis in Texas last week and needs to be taken with a grain of salt. Continuing Claims, or those that continue to receive benefits, decreased by 101,000 to 4.4M. The Pandemic Unemployment Assistance Claims, which gives individuals benefits who would not usually qualify, decreased by 167,000, while the Pandemic Emergency Claims, which extends claims by 13 weeks after regular benefits expire, increased by 1M to the highest level since the pandemic began.