Jobless Claims Fall to Four-Year Low

Initial jobless claims declined by 5,000 last week to the lowest level in four years, the Labor Department said Thursday.

Claims decreased to 348,000 for the week ended Saturday, Labor said.

Economists had forecast 350,000 new claims, Bloomberg reported.

The four-week moving average, a less volatile measure, declined to 355,000, from 356,500.

Continuing jobless claims for the previous week ended March 10 dipped by 9,000 to 3.35 million.