By Jeffry Bartash
WASHINGTON (MarketWatch) - The number of people who applied for U.S. unemployment benefits fell by 2,000 last week to a seasonally adjusted 351,000, the Labor Department said Thursday. Economists surveyed by MarketWatch estimated claims would total 350,000. Claims from two weeks ago were revised up to 353,000 from 351,000. The four-week average of claims, meanwhile, dropped 5,500 to 354,000, keeping it at a four-year low. The monthly average smoothes out seasonal quirks and provides a more accurate view of labor-market trends. Continuing claims, which reflect people already receiving benefits, decreased by 2,000 to a seasonally adjusted 3.40 million in the week ended Feb. 18. Continuing claims are reported with a one-week lag. About 7.50 million people received some kind of state or federal benefit in the week ended Feb. 11, up 11,933 from the prior week. Total claims are reported with a two-week lag and are not seasonally adjusted.
