The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labor market continued to strengthen despite tepid economic growth. Initial claims for state unemployment benefits declined 9,000 to a seasonally adjusted 267,000 for the week ended April 2, the Labor Department said on Thursday.
"The persistently low level of claims should provide some reassurance that the economy is growing, even if that growth appears more sluggish that most would have hoped a few months ago," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.