Initial filings for state unemployment benefits fell by 24,000 in the latest week, to 351,000, according to the Labor Department. It is at its lowest since late January. Analysts were expecting a number closer to 361,000.
The 4-week moving average also fell, by 1,500, to 359,500. The number still exceeds the 350,000 filings threshold economists use to determine if the labor market, and thus the economy, is weakening.
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