Initial Jobless Claims Fall

Washington, DC, March 22, 2007--The number of Americans signing up for state unemployment benefits fell to the lowest level in six weeks in the week ending March 17, the Labor Department reported Thursday.

Seasonally adjusted initial claims fell by 4,000 to 316,000. The four-week average of new claims -- considered a better gauge of underlying activity because it smoothes out one-time events such as holidays and weather -- fell by 3,750 to 326,000. Both figures are the lowest since the week of Feb. 3.

Initial claims had risen to a 17-month high in early March.

There were no special factors affecting claims this past week, a Labor Department spokesman said. Read the full government report.

The number of people collecting unemployment checks fell by 69,000 to 2.50 million in the week ending March 10, also the lowest in six weeks. The four-week average of continuing claims fell by 1,250 to 2.56 million, after hitting a 13-month high the previous week.