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Initial claims for state unemployment benefits
declined 36,000 to a seasonally adjusted 289,000 for the week
ended March 7, the Labor Department said on Thursday.
That unwound much of the prior two weeks' increases, which had
pushed claims well above the 300,000 mark. Harsh weather caused
volatility in claims for much of this year.
Economists polled by Reuters had forecast claims falling to
305,000 last week. A Labor Department analyst said there was
nothing unusual in the state-level data.
The four-week moving average of claims, considered a better
measure of labor market trends as it irons out week-to-week
volatility, fell 3,750 to 302,250 last week.
The government reported last week that the economy added 295,000
jobs in February, while the unemployment rate fell to a more
than 6-1/2-year low of 5.5 percent.
February marked the 12th straight month that employment gains
have been above 200,000, the longest such run since 1994.
Thursday's claims report showed the number of people still
receiving benefits after an initial week of aid fell 5,000 to
2.42 million in the week ended Feb. 28.
(Reporting By Lucia Mutikani; Editing by Andrea Ricci)
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