Jobless claims in the US decreased more than expected last week

FXStreet (Mumbai) - The labor department data released today in the US showed the initial jobless claims in the last week fell by 36K to a three-week low of 289K. The previous figure was revised to 325K. The economists had called for 305K new applications.

The four-week average of claims, a more accurate measure of the labor market strength, fell to 302,250 from 306,000 the week before. Meanwhile, the continuing claims declined by 5K to 2.42 million in the week ended Feb. 28.