U.S. weekly jobless claims drop 13,000 to 348,000, beat expectations, lowest since March 2008.
WASHINGTON (MarketWatch) - Weekly jobless claims in the U.S. fell by 13,000 to a seasonally adjusted 348,000 in the week ended Feb. 11, the Labor Department said Thursday. That's the lowest level since March 2008, when the U.S. was in the early stages of a recession. Economists surveyed by MarketWatch estimated claims would total 368,000. Claims from two weeks ago were revised up to 361,000 from 358,000. The four-week average of claims, meanwhile, fell by a smaller 1,750 to 365,250, keeping it near a four-year low. The monthly average smoothes out seasonal quirks and provides a more accurate view of labor-market trends, economists say. Continuing claims decreased by 100,000 to a seasonally adjusted 3.43 million in the week ended Feb. 4. Continuing claims are reported with a one-week lag. About 7.68 million people received some kind of state or federal benefit in the week ended Jan. 28, up 18,304 from the prior week. Total claims are reported with a two-week lag and are not seasonally adjusted.
http://www.marketwatch.com/story/us-weekly-jobless-claims-drop-13000-to-348000-2012-02-16?siteid=bnbh
= new reply since forum marked as read
