Jobless Claims Fall to Lowest Level in Three Months
Initial jobless claims declined last week to the lowest level in three months, the Labor Department reported March. 6.
Claims for the week ended March 1 declined by 26,000 to 323,000, Bloomberg News reported.
The Labor Department said the recent fluctuation coincides with states most affected by winter storms.
The number of claims was above analysts’ median forecast of 336,000, according to Bloomberg.
Claims “have gradually improved, so that’s a positive sign,” Bricklin Dwyer, an economist at BNP Paribas, told Bloomberg. “It’s supportive of a gradual improvement in net employment gains.”
The four-week moving average, a less volatile measure, declined to 336,500 from 338,500 the week before.
Continuing jobless claims for the week ended Feb. 22 declined by 8,000, to 2.91 million.
