BREAKING: US Jobless Claims fall more than forecast

The number of Americans filling for unemployment benefits was 0.712 million in the week ended March 6th, compared to 0.745 million rise reported in the previous week. Today’s reading came in below market expectations of 0.725 million. Claims are still far from the 200 thousand level reported back in February due to slow labor market recovery.

Continuing claims reading, which lags initial jobless claims data by one week, dropped to  4.14 million, while analysts expected a decrease to 4.22 million. Today’s reading still remains much above the 1.7 million average reported before the pandemic.