Jobless Claims Drop by 9,000 for Week

Initial jobless claims fell by 9,000 for the week ended Saturday, the Labor Department said Thursday.

Claims declined to 348,000, the department said in its weekly report.

The less-volatile four-week moving average rose to 347,250 — the highest level in more than two years — from 335,250 a year ago.
 
The weekly claims level close to economists’ forecasts, Bloomberg reported.

The number of people continuing to collect benefits fell to 2.761 million for the previous week ended Feb. 2, from 2.77 million the previous week, Labor said.

The total number of Americans receiving unemployment benefits rose to the highest level since November 2005, Bloomberg reported.