Jobless claims take another big drop in the third week of March, brushing off reports that show a slowing economy in the first quarter, while coming in at a five-week low.
Initial claims for unemployment benefits fell by 9,000 to a seasonally adjusted average of 282,000, according to the latest report from the Labor Department. It’s the third straight week of claims fewer than 300,000, and it pushed the more reliable four-week rolling average down by 7,750 to 297,000.
The numbers come in well below economists forecasts that put the number at 290,000. Still a number associated with a strong jobs market and growing economy,
It’s the fastest rate of job creation in the U.S. since the 1990s, according to MarketWatch.
Follow this link for the full report from the Department of Labor.