That’s the four-week moving average of first-time claims for unemployment insurance, the lowest in five years.
The monthly average, which is less volatile than the week-to-week measure, fell from 347,250 to the lowest level since February 2008.
Applications for jobless claims increased by 2,000 to 336,000 in the week ended March 16, according to the Labor Department. That was below the median estimate of 340,000 in a Bloomberg survey.
Bloomberg’s Alex Kowalski has more here.