U.S. Weekly Jobless Claims Unexpectedly Edge Slightly Lower

(RTTNews) - A report released by the Labor Department on Thursday unexpectedly showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended March 8th.

The Labor Department said initial jobless claims edged down to 220,000, a decrease of 2,000 from the previous week's revised level of 222,000.

The dip surprised economists, who had expected jobless claims to inch up to 225,000 from the 221,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average crept up to 226,000, an increase of 1,500 from the previous week's revised average of 224,500.