Jobless Claims in U.S. Fell 16,000 Last Week to 385,000

Fewer Americans filed first-time claims for unemployment insurance payments for a third week in the last four, indicating progress in the labor market.

Applications for jobless benefits decreased 16,000 in the period ended March 12 to 385,000, in line with the median forecast in a Bloomberg News survey, Labor Department figures showed today. The four-week average of claims dropped to the lowest level since July 2008. The number of people on unemployment benefit rolls fell, while those getting extended payments rose.