Jobless Claims Edge Lower in Tight U.S. Labor Market

New applications for unemployment benefits edged lower last week, remaining near historically low levels in a robust U.S. labor market.

Initial jobless claims, a proxy for layoffs, fell by 15,000 to a seasonally adjusted 214,000 for the week ended March 12, the Labor Department said Thursday. The four-week moving average, which smooths out week-to-week volatility, decreased to 223,000, compared with the previous week’s revised 231,750.

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