The number of people filing initial applications for U.S. state unemployment benefits fell more than expected last week, the government reported Thursday, providing evidence that strong hiring should continue despite signs of slower economic growth at the beginning of 2015. The Labor Department said jobless claims fell 9,000 last week to 282,000, the lowest level since mid-February. The four-week moving average - a better measure of labor-market trends because it smoothes weekly volatility - fell 7,750 to 297,000 last week. Over the past 12 months, the average has declined about 7 percent. Jobless claims are a measure of layoffs. The relatively low average shows that employers are keeping workers and may increase hiring. Claims below 300,000 are typically consistent with solid monthly job gains. The economy added 295,000 jobs in February, marking the 12th consecutive month that employment gains have been above 200,000, the longest such streak since 1994. The sustained strength in the jobs market highlights the economy's solid fundamentals and suggests a recent slowdown in economic activity will be temporary, economists say. The robust jobs picture is in contrast with recent pessimistic reports on manufacturing, homebuilding, consumer spending, and international trade.
