US initial jobless claims dip by 2,000, indicating improvement

US initial jobless claims decline by 2,000, signaling a modest improvement in the labor market

According to U.S. Labor Department data released Thursday, the number of Americans filing first-time unemployment claims fell by 2,000 last week to 210,000.

The figure came in lower than market estimates of 212,000.

The previous week’s reading was revised by 3,000 from 209,000 to 212,000.

The four-week moving average was 211,250, an increase of 2,500 from the previous week’s revised average.

The U.S. economy added 275,000 jobs in February, while the unemployment rate rose to 3.9% from 3.7% in January.

Source: AA

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