By Jeffry Bartash
WASHINGTON (MarketWatch) - The number of people applying for new unemployment benefits edged up by 2,000 to 336,000 in the week ended March 16 but remained near a five-year low, the U.S. Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to rise to a seasonally adjusted 340,000. The average of new claims over the past month, which irons out weekly volatility, dropped by 7,500 to 339,750, the lowest level since February 2008. Also, Labor said continuing claims increased by 5,000 to a seasonally adjusted 3.05 million in the week ended March 9. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up slightly to 334,000 from an original reading of 332,000, based on more complete data collected at the state level.
