Applications for U.S. unemployment benefits fell last week by the most since July, unwinding most of the prior week’s jump as claims in New York plunged.
Initial unemployment claims decreased by 20,000 to 192,000 in the week ended March 11, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 205,000 applications.
Continuing claims, which include people who have received unemployment benefits for a week or more, fell by 29,000 to 1.68 million in the week ended March 4. Economists watch this measure closely to discern how hard it is for people to find work after losing their job.
