First-time claims for U.S. unemployment benefits pulled back by much more than expected in the week ended March 5th, according to a report released by the Labor Department on Thursday.
The Labor Department said initial jobless claims dropped to 259,000, a decrease of 18,000 from the previous week’s revised level of 277,000.
Economists had expected jobless claims to edge down to 272,000 from the 278,000 originally reported for the previous week.
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