Jobless Claims Fall to Two-Month Low
Filings for U.S. unemployment benefits have fallen to a two-month low, suggesting the labor market remains healthy in data reflecting revisions going back to 2014.
Jobless claims declined 5,000 to 211,000 in the week ended March 23, below economist forecasts, Labor Department figures showed March 28. The four-week average, a less-volatile measure, declined to 217,250.
Declining claims indicate companies remain in a tight spot finding workers and keeping them, with levels of filings remaining near historic lows. In addition, the annual revisions to seasonal adjustment factors, released March 28, showed filings were lower than previously reported since late January. The lowest reading over the past year is now 208,000 for the week ended Sept. 8.
Continuing claims, which are reported with a one-week lag, rose by 13,000 to 1.76 million in the week ended March 16. The unemployment rate among people eligible for benefits was unchanged at 1.2%. The previous week’s claims were revised down to 216,000 from 221,000.
