US jobless claims drop 5K to 382K, the best number of the recovery

Fewer and fewer Americans are claiming unemployment benefits in a developing trend that will boost expectations for accelerating payroll growth. Jobless claims for Mar 19 came in at 382K, a decrease of 5K from the previous week's revised figure of 387K. The 4-week moving average was 385K, a decrease of 1,500.  The four-week average edged lower to 385,250 to show a more than 15K month-ago improvement. These are the best numbers since the crisis began.

Continuing claims are also down, posting the best readings of the recovery.  The four-week average of 3.755 MM shows a nearly 150K month-ago improvement. A total of 8.766 MM claimed unemployment benefits in data for the Mar 5 week, an improvement of more than 187K from the prior week.  Via DOL:
In the week ending March 19, the advance figure for seasonally adjusted initial claims was 382,000, a decrease of 5,000 from the previous week's revised figure of 387,000. The 4-week moving average was 385,250, a decrease of 1,500 from the previous week's revised average of 386,750.
The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending March 12, unchanged from the prior week's unrevised rate of 3.0 percent.
The advance number for seasonally adjusted insured unemployment during the week ending March 12 was 3,721,000, a decrease of 2,000 from the preceding week's revised level of 3,723,000. The 4-week moving average was 3,755,250, a decrease of 28,000 from the preceding week's revised average of 3,783,250.

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