NEW YORK (CNNMoney) — The number of Americans filing either continuing or first-time claims for unemployment benefits fell last week, a sign that the job market continues to slowly improve.
The number of Americans filing for ongoing claims dropped 80,000 to 3,706,000 in the week ended March 5, the most recent week available. That was the lowest number of continuing claims since September 2008, and below economists’ forecast for 3,750,000 continuing claims.
Although the decline is a welcome sign, Moody’s Capital Markets Group chief economist John Lonski warned that the figure may be skewed by the expiration of benefits for those Americans who have been jobless for long periods of time and are no longer eligible for unemployment insurance.
Read the full article here!