Jobless Claims Down Last Week

Washington, DC, March 17, 2011 -- New applications for unemployment benefits fell last week by 16,000 to a seasonally adjusted 385,000, the Labor Department said.

Economists predicted that claims would fall to 387,000. The prior week's figure was revised up to 401,000.

The four-week moving average of unemployment claims dropped 7,000 to 386,250, the lowest since mid-July 2008 and staying below the 400,000 level for a third straight week.