Weekly jobless claims settling below 400,000

Weekly initial jobless claims posted a small 5,000 dip in the latest week to 382,000, while the 4-week moving average slipped by 1,500 to 385,250.



That’s the fourth week in five weekly claims have held below 400,000, signaling that the burst in economic activity that began late last year and early this year is continuing into March.

The gradual improvement in jobless claims also suggests that the labor market continues to slowly heal.

Historically speaking, claims are still a bit on the high side, reflecting how far the economy sank during the recession and the modest uncertainty that still exists as the recovery officially enters its 21st month.

But the downward trend is intact, as employers sense the pick up in the economy and the need to retain workers.