Fewer than 300,000 Americans filed first-time claims for unemployment benefits last week, and the number of people on benefit rolls fell to a five-year low, pointing to strength in the labor market.þþInitial jobless claims totaled 294,000 in the week ended Feb. 25, a rise of 15,000 from a week earlier, the Labor Department said yesterday. Continuing claims fell by 2,000 in the week ended Feb. 18, to 2.486 million — the lowest since Feb. 10, 2001. The four-week average fell to 2.508 million, from 2.51 million. þþThe Labor Department's next report on monthly employment comes on March 10. þþ
Source: NY Times
