US unemployment claims decline

March 15 2013 at 08:00am

The number of Americans applying for unemployment benefits dropped last week to the lowest level in two months, adding to signs that the labour market is strengthening. First-time jobless claims fell by 10 000 to 332 000, US Labour Department data show. The median forecast of 49 economists surveyed by Bloomberg called for an increase to 350 000. The four-week average fell to a five-year low. A risk remains that the recent pickup in employment will be cut short as federal budget cutbacks prompt firms and government agencies to trim payrolls. – Bloomberg

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