The number of initial jobless claims fell by 42,000 in the week ended March 6 when compared to the revised data from the previous week, according to seasonally adjusted data reported by the US Department of Labor. Initial claims totaled 712,000 and were at their lowest level since the week of Nov. 7, 2020.
Reuters had reported that claims fell more than expected.
In addition, the four-week moving average of initial claims fell by 34,000 in the week ended March 6 from the previous week’s revised average to a total of 759,000.
Pandemic Unemployment Assistance claims, which are not seasonally adjusted, rose by 41,863 to a total of 478,001. Pandemic Unemployment Assistance program claims include self-employed workers, among others.