Jobless Claims Lowest in 4 Years

Latest week’s data suggest improved U.S. labor market.

Applications for unemployment benefits dropped last week to the lowest level in four years, reinforcing signs the U.S. labor market is picking up.

Jobless claims decreased by 5,000 to 348,000 in the week ended March 17, the fewest since February 2008, Labor Department figures showed today in Washington. The median forecast of 46 economists in a Bloomberg News survey projected 350,000. The number of people on unemployment benefit rolls and those getting extended payments also fell.

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