Those applying for jobless claims in the U. S. last week dropped, in another sign of a stable labor market. The fall reverses a pick-up in claims during the final two weeks of February that are being attributed to the run of nasty weather that gripped a good chunk of the country.
The latest numbers from the Labor Department show claims fell 11% to 289,000. The number from the week before was revised up by 5,000 to 325,000.
Two states showed jumps of more than 1,000 claims among those in manufacturing. Georgia handled 2,840 jobless benefits claims, while Alabama processed 1,323.
The drop in claims comes in lower than MarketWatch and Reuters analysts expected. Those polled predicted claims to come in around 310,000 for the week.
The less-volatile four-week rolling average shows a drop in claims by 3,750 to 302, 250.
The U.S. unemployment remains at 5.5%, and falling 0.1% in February.
Follow this link to see the full report from the U.S. Department of Labor.