WASHINGTON — The number of Americans filing initial claims for state unemployment benefits fell by 13,000 to a seasonally adjusted 348,000, the Labor Department said Thursday, marking the lowest level since March 2008.
A survey of economists by Dow Jones Newswires expected claims to rise to 365,000 in the week ended Feb. 11.
Claims from two weeks ago were revised up to 361,000 from 358,000. The four-week average of claims, meanwhile, fell by a smaller 1,750 to 365,250, keeping it near a four-year low. The monthly average smooths out seasonal quirks and provides a more accurate view of labor-market trends, according to economists.
Continuing claims, which are reported with a one-week lag, decreased by 100,000 to a seasonally adjusted 3.43 million.
About 7.68 million people received some kind of state or federal benefit in the week ended Jan. 28, up 18,304 from the prior week. Total claims are reported with a two-week lag and are not seasonally adjusted.
US stock futures trimmed losses after the better-than-expected report, according to MarketWatch.