The number of U.S. workers filing new claims for jobless benefits fell more than expected last week, a government report showed on Thursday, but remained at high levels consistent with a severe recession.
The Labor Department said initial claims for state unemployment insurance benefits fell by 31,000 to a seasonally adjusted 639,000 in the week ended Feb. 28 from an upwardly revised 670,000 the prior week.
Analysts polled by Reuters had forecast 650,000 new claims versus a previously reported 667,000 the previous week.
The number of people staying on the benefits roll after drawing an initial week of aid eased by 14,000 to 5.11 million in the week ended Feb. 21, the latest week for which the data is available, from 5.12 million the previous week.
That number remains near record highs, indicating that the harsh economic environment is making it tough to find new jobs. more...
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