Initial Claims Fall to 348,000 as Employers Grow Confident in Recovery
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Americans lining up for insurance benefits after losing their job continued to drop last week.
According to the U.S. Labor Department on Thursday, initial jobless claims fell 5,000 to 348,000 for the week ended March 17th. The number came in below expectations for a projected increase to 355,000, though Bloomberg noted its survey concluded the number could be about 350,000.
The prior week reading was revised from 351,000 to 353,000.
With improving economic data, employers are more willing to spend on expansion and hire, rather than fire, workers.
The four-week moving average slimmed from 356,250 the prior week to 355,000. Those continuing to receive benefits fell 9,000 to 3.35 million.
For the week ended March 3, data showed those on emergency benefits fell 16,000 to 3.31 million.
The unemployment rate for those continuing to get benefits fell 0.1 points to 2.6 percent, the lowest level since September 2008.
According to the U.S. Labor Department on Thursday, initial jobless claims fell 5,000 to 348,000 for the week ended March 17th. The number came in below expectations for a projected increase to 355,000, though Bloomberg noted its survey concluded the number could be about 350,000.
The prior week reading was revised from 351,000 to 353,000.
With improving economic data, employers are more willing to spend on expansion and hire, rather than fire, workers.
The four-week moving average slimmed from 356,250 the prior week to 355,000. Those continuing to receive benefits fell 9,000 to 3.35 million.
For the week ended March 3, data showed those on emergency benefits fell 16,000 to 3.31 million.
The unemployment rate for those continuing to get benefits fell 0.1 points to 2.6 percent, the lowest level since September 2008.
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