Initial Jobless Claims Stick Closely to 350,000 Level
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Labor Department data Thursday showed the number of US citizens applying for first-time jobless benefits has continued to remain near four-year lows into mid March. The figures underscore recent indications from the Fed related to labor market conditions which continue to improve.
Initial jobless claims for the week ended March 10th totaled 351,000, down nearly 4 percent from an upwardly-revised reading of 365,000 for the prior week. Economists were expecting a jobless claims reading at 357,000.
Continuing claims for the week ended March 3rd came in at 3.343 million, slightly lower than the 3.4 million the Street had been expecting and down markedly from a revised 3.424 million during the previous week.
Members of the workforce now collecting emergency benefits (ie. those who have used up traditional benefits) fell nearly 74,000 to 3.33 million during the week ended February 25th.
Thursday's data points from the Labor Department showed 42 states and territories saw in increase in jobless claims, while 11 showed declines.
After trading higher throughout most of the pre-open session, US stocks are now mixed: while the Dow is down about 7 points, the Nasdaq and S&P 500 are up 7 and 1, respectively.
Initial jobless claims for the week ended March 10th totaled 351,000, down nearly 4 percent from an upwardly-revised reading of 365,000 for the prior week. Economists were expecting a jobless claims reading at 357,000.
Continuing claims for the week ended March 3rd came in at 3.343 million, slightly lower than the 3.4 million the Street had been expecting and down markedly from a revised 3.424 million during the previous week.
Members of the workforce now collecting emergency benefits (ie. those who have used up traditional benefits) fell nearly 74,000 to 3.33 million during the week ended February 25th.
Thursday's data points from the Labor Department showed 42 states and territories saw in increase in jobless claims, while 11 showed declines.
After trading higher throughout most of the pre-open session, US stocks are now mixed: while the Dow is down about 7 points, the Nasdaq and S&P 500 are up 7 and 1, respectively.
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