US jobless claims fall to 310,000

WASHINGTON - New US unemployment claims fell by 1,000 in the week to February 26, to 310,000, the Labor Department reported Thursday.
The four-week average of new claims dropped by 1,500 to 307,000, the lowest since October 2000.
The figures were in line with economists' expectations.
Meanwhile, the number of former workers receiving benefit checks climbed by 12,000 to 2.67 million in the week ended February 19. The insured unemployment rate remained at 2.1 percent. In just the past month, initial jobless claims have broken below the 330,000 to 350,000 level that had prevailed for a year.
The report provides some clues to the more important monthly US payroll report for February, due Friday.
Analysts are expecting the report to show 225,000 new jobs created last month. Job creation is seen as a key to sustaining economic growth.

03/03/2005 13:43 GMT