The number of Americans filing new claims for unemployment benefits fell more than expected last week pointing to a healthy and expanding labour market south of the border.
Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 282,000 for the week ended March 21, the U.S. Labor Department said on Thursday. That was the lowest level since mid-February.
Claims for the prior week were unrevised. Economists had forecast claims dipping to 290,000 last week.
The sustained jobs market strength underscores the economy's solid fundamentals and suggests a recent slowdown in economic activity will be temporary.
Harsh weather, the now-settled labour dispute at the country's busy West Coast ports, softer global demand and a strong dollar have undercut growth early in the first quarter.
Related Stories
