First-time claims for jobless benefits in the US fell last week, yet another reminder of the improving labour market recovery.
In the week to March 31, initial jobless claims fell 6,000 to 357,000 from the previous week’s upwardly revised figure of 363,000, according to the US labour department. Analysts had forecast that claims would stand at the 360,000 mark.
The four-week moving average stood at 361,750, a decrease of 4,250 from the previous week’s upwardly revised 366,000. The monthly average smoothes out seasonal quirks and provides a more accurate view of labour market trends. Both levels are at recovery lows.
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