US Jobless Claims drop 16K to 385K

Jobless claims confirmed their improving trend, reversing half of the prior week's rise with a 16K decline in the March 12 week to 385K. The four-week average is down 7K to 386,250 for its best reading of the recovery. A month-to-month comparison shows a 20K improvement.
Continuing claims in data for the March 5 week fell 80K to 3.706 MM in another recovery best. A month-to-month look shows a more than 200K improvement. The unemployment rate for insured employees is unchanged at 3.0 percent.
Initial claims now appear to have moved below the 400K level in what will raise talk of further gains for payroll growth.  Via DOL:

In the week ending March 5, the advance figure for seasonally adjusted initial claims was 397,000, an increase of 26,000 from the previous week's revised figure of 371,000. The 4-week moving average was 392,250, an increase of 3,000 from the previous week's revised average of 389,250.

The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending Feb. 26, unchanged from the prior week's unrevised rate of 3.0 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Feb.26 was 3,771,000, a decrease of 20,000 from the preceding week's revised level of 3,791,000. The 4-week moving average was 3,833,250, a decrease of 34,750 from the preceding week's revised average of 3,868,000.

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