March 27 (Bloomberg) — Applications for unemployment benefits unexpectedly declined last week to an almost four-month low, a sign companies are confident in the outlook for demand.
Jobless claims decreased by 10,000 to 311,000 in the period ended March 22, Labor Department data showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for 323,000 claims. The four-week average of applications filed with state agencies dropped to the lowest level since September.
A slower pace of firings helps give employers room to add staff when sales pick up after harsher winter weather weighed on first-quarter growth. Federal Reserve policy makers are counting on sustained improvement in the job market as they wind down their unprecedented bond-buying program and consider when to raise interest rates.
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