Weekly Jobless Claims Tumble to 3-Month Low

By Lucia Mutikani

WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell more than expected and hit a three-month low last week, a sign of strength in a labor market that has been hobbled by severe weather.

Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 323,000, the Labor Department said Thursday. That was the lowest level since the end of November and the drop more than unwound the prior week's rise.