Jobless Claims Lowest in Nearly Four Years

Washington, DC, Feb. 16, 2012 -- Initial applications for unemployment benefits fell last week to the lowest level in almost four years, according to the Labor Department.

Jobless claims decreased by 13,000 to a seasonally adjusted 348,000 in the week ended Feb. 11. That’s the lowest level since March 2008, when the U.S. was in the early stages of a recession.

Economists estimated that claims would rise to 368,000. Claims from two weeks ago were revised up to 361,000 from 358,000.

The four-week average of claims fell by a smaller 1,750 to 365,250, keeping it near a four-year low.