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Weekly Jobless Claims Touch 3-Month Low

There were 315,000 first-time claims filed for unemployment benefits last week, the Employment and Training Administration says.

That's down 9,000 from the previous week and marks a three-month low.

So for the second straight week, there's at least modestly good news to report about the labor market.

Last Friday, the Bureau of Labor Statistics said there were 175,000 more jobs on employers' payrolls last month than in January — better growth than had been expected.

Reuters says the news about jobless claims suggests some "strengthening" in the labor market. Bloomberg News looks a little ahead and writes that "faster gains in hiring will help to boost consumer spending, the biggest part of the economy, after harsh winter weather weighed on everything from retail sales to home purchases earlier this year."

Copyright 2020 NPR. To see more, visit https://www.npr.org.

Mark Memmott
Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.