New Unemployment Insurance Claims Fall

New claims for state unemployment insurance fell last week but still hovered at a level suggesting that employers’ demand for workers has eased. The Labor Department said that initial applications for jobless benefits declined by 4,000 to a seasonally adjusted 370,000 for the week ended March 3. The week before, claims shot up by 41,000, according to revised figures. That was a bigger increase than the government previously estimated. The decline last week left claims at their lowest level since Feb. 17. However, the more stable four-week moving average of jobless claims, which smooths out week-to-week volatility, rose last week to 355,250. That was the highest level since the beginning of the year.