Weekly initial jobless claims fell 21,000 in the latest week to 391,000, and the 4-week moving average, which removes much of the volatility from the seven-day number, dipped 16,500 to 402,000.
With weather receding as a factor that has caused all kinds of distortions with the data, the downward trend is providing a reassuring vote of confidence that the pace of the recovery is quickening.
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