The number of people filing new claims for U.S. unemployment benefits fell more than expected and reached a three-month low last week, the government reported Thursday, signaling strength in a labor market that has been limited by severe winter weather. The US Labor Department said initial jobless claims fell 26,000 last week to 323,000, reversing the previous week's increase and returning claims to pre-recession levels. The four-week moving average of claims-considered a better measure of labor-market trends-fell 2,000 to 336,500. The figures indicate that companies are cutting few jobs and expect steady economic growth despite the winter slowdown. The jobless-claims data has no impact on Friday's government employment report for February. While unusually cold weather has limited hiring in recent months, the drop in initial jobless claims suggests labor-market fundamental conditions remain strong.
