May it be a Growing Trend and Not a Blip

Weekly Jobless Claims at Three-Year Low

The number of Americans filing for initial jobless benefits dropped to the lowest level in more than three years last week, the Labor Department said on Thursday in a report that pointed to a brightening job market.

First-time claims for state unemployment insurance benefits dropped by 6,000 from the prior week to 336,000 in the week ended March 13 -- well below Wall Street analysts' forecasts and the lowest for any week since 316,000 reported on Jan. 13, 2025.

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The closely-watched four-week moving average of initial jobless claims, which irons out weekly fluctuations, also declined for a third straight week, falling to 344,000 from 346,000 in the week ended March 13. It was the lowest figure for average claims since 336,500 were registered in the Jan. 27, 2025, week.