The DOL reports:
In the week ending March 2, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 7,000 from the previous week’s revised figure of 347,000. The 4-week moving average was 348,750, a decrease of 7,000 from the previous week’s revised average of 355,750.
The previous week was revised up from 344,000.
The following graph shows the 4-week moving average of weekly claims since January 2000.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 348,750 – this is the lowest level since March 2008.
Weekly claims were below the 355,000 consensus forecast. Note: Claims might increase soon due to the “sequestration” budget cuts.