Initial jobless claims unexpectedly fell last week

Initial jobless claims fell by 8,000 from the previous week to 205,000 in the second week of March, below expectations of a 2,000 increase. Likewise, continuing jobless claims rose only slightly to 1,857,000 in the previous week. The results contrasted with the weak signals in the latest jobs report by the BLS, consolidating the view of a low-hiring, low-firing labor market.

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