U.S. first-time jobless claims fall to 348,000 last week, fewest since February 2008

WASHINGTON (MarketWatch)
The number of Americans who filed requests for jobless benefits fell by 5,000 last week to 348,000, the lowest level since February 2008, the U.S. Labor Department said Thursday
Claims from two weeks ago were revised up to 353,000 from 351,000
Economists surveyed by MarketWatch had projected claims would rise to a seasonally adjusted 353,000 in the week ended March 17
The average of new claims over the past four weeks, meanwhile, declined by 1,250 to 355,000 Continuing claims, which reflect people already receiving benefits, decreased by 9,000 to a seasonally adjusted 3.35 million in the week ended March 10
Continuing claims are reported with a one-week lag
About 7.28 million people received some kind of state or federal benefit in the week ended March 3, a decline of 142,499
Total claims are reported with a two-week lag