US jobless claims fall to 4-yr low in latest week
New US claims for unemployment benefits fell to a fresh four-year low last week, according to a government report that showed ongoing healing in the labour market.business Updated: Mar 29, 2012 22:26 IST
New US claims for unemployment benefits fell to a fresh four-year low last week, according to a government report that showed ongoing healing in the labour market.
Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 359,000, the lowest level since April 2008, the labour department said on Thursday.
The report included revisions for claims data from 2007 based on updated seasonal adjustment calculations. New seasonal adjustment factors were also introduced for 2012.
The prior week’s figure was revised up to 364,000 from the previously reported 348,000. Economists polled by Reuters had forecast a claims reading of 350,000 for last week.
The four-week moving average for new claims, a measure of labour market trends, declined 3,500 to 365,000.
Employers added 227,000 jobs to their payrolls in February, taking the tally for the past three months to 734,000. A report on jobs growth during March is due on April 6.
A labour department official said there was nothing unusual in the state-level data and only two states — Alaska and Hawaii — had been estimated.