Initial Jobless Claims Fall More Than Expected to Lowest Level Since March 2008

March 02, 2012

The Labor Department reported today jobless claims dropped to the four-year low, adding to economists' views that the economy is turning around.Applications for unemployment benefits decreased by 2,000 in the week ended Februaray 25th to 351,000. Economists had been expecting 355,000 claims in the week.The number of people contenting to college jobless benefits dropped by 2,000 in the week to 3.4 million. The unemployment rate is still at 8.3% from its January measurement and could see a drop from this news when February numbers are revealed.