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Weekly jobless claims decrease

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Weekly jobless claims decrease

Weekly claims of 268,000 beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended March 28 were 268,000, a decrease of 20,000 from the previous week's revised figure. This is the lowest weekly reading in 6 weeks.

Analysts had expected an increase to 285,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 14,750 to 285,500.

The decrease in claims was seen by most as an encouraging sign that the labor market continues to gain strength, even in the face of what appears to be a slowing economy.

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