The US Labor Department said initial jobless claims dipped to 222,000, a decrease of 7,000 from the previous week's revised level of 229,000, marking the second lowest level since the end of the 2007-2009 recession.

The less volatile four-week moving average also fell to 226,000, a decrease of 2,250 from the previous week's revised average of 228,250.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, slid by 73,000 to 1.875 million in the week ended February 10th.

The four-week moving average of continuing claims dropped to 1,926,500, a decrease of 16,250 from the previous week's revised average of 1,942,750.