11.03.202112:35:00UTC+00U.S. Weekly Jobless Claims Drop More Than Expected

Following last week's much better than expected monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell to a four-month low in the week ended March 6th.

The Labor Department said initial jobless claims dropped to 712,000, a decrease of 42,000 from the previous week's revised level of 754,000.

Economists had expected jobless claims to dip to 725,000 from the 745,000 originally reported for the previous week.

With the bigger than expected decrease, jobless claims fell to their lowest level since hitting 711,000 in the week ended November 7th.