Jobless claims fall to nearly 3-year low

In another sign that the job market is slowly recovering, the number of Americans filing first-time claims for unemployment benefits fell last week to a nearly 3-year low.

There were 368,000 initial jobless claims filed in the week ended Feb. 26, the Labor Department said Thursday. That was down 20,000 from the week before, and the lowest since May 2008.

Economists surveyed by Briefing.com had expected initial claims to rise to 400,000 in the latest report.

The 4-week moving average of initial claims, which aims to smooth out volatility, also improved, falling to 388,500 from the previous week's revised average of 401,250. That's the lowest since July 2008.

Read Full Article from CNNMoney

- Posted: 2011-03-03 11:10:07

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