US initial jobless claims fall to3-month low

The number of Americans initially applying for unemployment aid last week fell to a three- month low, reflecting an improving job market. In the week ending March 1, the advance figure of seasonally adjusted initial claims for jobless benefits decreased by 26,000 to 323,000, U.S. Labor Department reported Thursday. The data was better than the market expectation of a decrease to 336,000. Economists said the decrease of jobless claims was in line with a gradually upward job market. The Gallup's Job Creation index, an index to measure net hiring in the United States, released Wednesday also reached 21, exceeding the plus 20 average for 2013 and is the highest February reading since the beginning of the 2007 to 2009 recession. Meanwhile, the four-week moving average, which helps smooth out week-to-week volatility, decreased by 2,000 to 336,500 last week. The advance figure of seasonally adjusted insured unemployment during the week ending Feb. 22 stood at 2.907 million, down 8,000 from the previous week.