The number of new US jobless claims fell for the second straight week, but a more reliable barometer of labour market trends rose to its highest level in more than 10 months, the US government said today =.
The US Labor Department said first-time claims, a guide to the job market and the pace of layoffs, fell for the second straight week, dropping to 421,000 in the March 15th week from a revised 425,000 for the prior week and in line with Wall Street economists' forecasts of 420,000.
The closely watched four-week moving average - a more reliable barometer of employment market trends - rose for the seventh consecutive week to 424,750 from 421,000 in the previous week and to its highest since measuring 429,500 in the May 4th, 2002, week.