The US labor market remains stable as the market eagerly awaits Friday's nonfarm payroll data.

BlockBeats News, March 5th. According to the US Department of Labor data, as of the week ending on February 28th, the number of initial jobless claims in the US was 213,000, higher than the previous value of 212,000 but lower than the market expectation of 215,000, indicating that the overall labor market is still in a low layoff state.

The data indicates that after experiencing holiday and winter weather disturbances, the number of initial jobless claims has returned to near last year's low range. At the same time, the number of continuing jobless claims rose to 1.87 million, the largest increase so far this year.

The US Federal Reserve Beige Book pointed out that the recent employment level is generally stable, with recruitment activities remaining largely unchanged in 7 of the 12 districts. Some businesses mentioned that rising non-labor costs, weak demand, and economic uncertainty have limited hiring.

The market is currently awaiting the non-farm payroll report to be released on Friday, with a general expectation that after strong January employment data, job additions in February will slow down, but the unemployment rate is expected to remain stable.