Initial Jobless Claims Fall 2.8% to 3-Month Low
Initial jobless claims fell 2.8% to 315,000 for the week ending March 8, according to a Labor Department report released today.
After plummeting a revised 7.2% the previous week, this newest report beat analyst expectations of a slight rise to 330,000 claims.
Source: author, data from Labor Department
From a more long-term perspective, a 1.9% dip in the four-week moving average to 330,500 initial claims marks a second week of improvements after a rocky start to 2014. Both the latest week's claims and the four-week average fall significantly below 400,000, a cutoff point that economists consider a sign of an improving labor market.
On a state-by-state basis, six states recorded a decrease of more than 1,000 initial claims for the week ending March 1 (most recent available data). California's claims dropped the most (-5,770), due primarily to fewer services and wholesale trade layoffs.
For the same period, four states registered increases of more than 1,000 initial claims. New York's number shot up (+18,709) as transportation, warehousing, education, and food service layoffs took their toll.
The article Initial Jobless Claims Fall 2.8% to 3-Month Low originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.