Initial Jobless Claims at Lowest Level Since March 2009

The Labor Department’s initial and continuing claims data were released today, covering claims through the week ending March 23^rd. Overall, initial unemployment insurance claims came in at 357K, an increase of 16K over the revised figure from the prior week. Additionally, the revised figure from the prior week was moved upward by 7K from 334K.  The seasonally adjusted initial claims figures are now about 7 percent above where they stood for the week ending March 9^th.  The week of March 9^th represents the lowest initial jobless claims figure since the onset on the economic recovery in 2009.