New claims for US unemployment benefits have tumbled to their lowest level in more than three months, government data released on Thursday shows.
The Labor Department said on Thursday 315,000 initial jobless claims were filed in the week ending March 8, a decline of 9000 from the prior week's 324,000 reading, revised slightly higher.
The decline in claims, which indicate the pace of layoffs, surprised analysts who projected on average they would rise to 329,000.
It was the lowest level of first-time claims since the last week of November.
The four-week moving average of claims, which helps to smooth week-over-week volatility, fell by 6250 to 330,500.
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A year ago, the moving average was 347,000.
The Labor Department gave no particular explanation for last week's decline.
The US unemployment rate stood at 6.7 per cent in February and the economy added 175,000 jobs during the month, picking up the pace of job growth despite severe winter weather.
