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Jobless Claims Lowest in 4 Years

Latest weeks data suggest improved U.S. labor market.

By Shobhana Chandra, Bloomberg | Updated on March 22, 2012

Applications for unemployment benefits dropped last week to the lowest level in four years, reinforcing signs the U.S. labor market is picking up.

Jobless claims decreased by 5,000 to 348,000 in the week ended March 17, the fewest since February 2008, Labor Department figures showed today in Washington. The median forecast of 46 economists in a Bloomberg News survey projected 350,000. The number of people on unemployment benefit rolls and those getting extended payments also fell.

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