First-time jobless claims fall to 348,000 last week, the fewest since March 2008

WASHINGTON (MarketWatch)
Weekly jobless claims in the U.S. fell by 13,000 to a seasonally adjusted 348,000 in the week ended Feb. 11, the Labor Department said Thursday
That's the lowest level since March 2008, when the U.S. was in the early stages of a recession Economists surveyed by MarketWatch estimated claims would total 368,000
Claims from two weeks ago were revised up to 361,000 from 358,000
The four-week average of claims, meanwhile, fell by a smaller 1,750 to 365,250, keeping it near a four-year low
The monthly average smoothes out seasonal quirks and provides a more accurate view of labor-market trends, economists say
Continuing claims decreased by 100,000 to a seasonally adjusted 3.43 million in the week ended Feb. 4
Continuing claims are reported with a one-week lag
About 7.68 million people received some kind of state or federal benefit in the week ended Jan. 28, up 18,304 from the prior week
Total claims are reported with a two-week lag and are not seasonally adjusted