Initial Jobless Claims Show Continuing Weakness

Washington, DC, March 27, 2008—Initial jobless claims fell 9,000 to 366,000 for the week ended March 22, the Labor Department reported.

Initial claims for the prior week were revised to 375,000 from an initial estimate of 378,000.

For the week ended March 15, continuing claims for benefits fell 5,000, reaching 2.85 million. The four-week average of continuing claims rose 25,250 to 2.82 million.

Initial claims represent job loss.

The numbers indicate continuing weakness in the job market.