U.S. Weekly Jobless Claims Dip More Than Expected

(RTTNews) - With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 3rd.

The report said initial jobless claims dipped to 221,000, a decrease of 21,000 from the previous week's unrevised level of 242,000. Economists had expected jobless claims to edge down to 235,000.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 224,250, an increase of 250 from the previous week's unrevised average of 224,000.