Jobless Claims Decline to Almost Four-Year Low

Initial jobless claims decreased last week, matching the lowest level in nearly four years, the Labor Department said Thursday.

Claims declined by 2,000 for the week ended Saturday, to 351,000, the fewest since March 2008, Labor said.

The previous week’s claims were revised upward to 353,000.

Economists had forecast 355,000 new claims, Bloomberg reported.

The four-week moving average, a less volatile measure, dropped to 354,000, from 359,500.

Continuing jobless claims for the previous week ended Feb. 18 dipped by 2,000 to 3.4 million.