Initial Jobless Claims Fall to Late January Level

Washington, DC, March 6, 2008-- Initial jobless claims fell to their lowest level since the second half of January, according to the Labor Department.

However, continuing claims reached their highest level since September 2005.

Initial claims for the week ended March 1 declined by 24,000 to 351,000, the lowest reading since Jan. 19.

However, continuing claims rose by 29,000 to 2.83 million during the week ended Feb. 23, the highest level since Sept. 24, 2005.