The number of people filing initial applications for U.S. state unemployment benefits rose modestly last week, the government reported Thursday, indicating the labor market remains healthy despite slowing economic growth. The Labor Department said jobless claims increased 1,000 to 291,000 last week, close to analyst expectations. Despite some volatility this winter, the trend has been consistent with a strengthening jobs market. The four-week moving average of jobless claims—considered a better indicator of labor-market trends because it smoothes weekly volatility—rose 2,250 to 304,750 last week. The economy added a strong 295,000 jobs in February, with the unemployment rate falling to a nearly 7-year low of 5.5 percent. February marked the 12th consecutive month that employment gains have been above 200,000, the longest such streak since 1994.
