By Jeffry Bartash
WASHINGTON (MarketWatch) - The number of people who applied for U.S. unemployment benefits fell by 26,000 to 323,000 in the week ended March 1, marking the lowest level since late November, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to total 335,000 on a seasonally adjusted basis. Like other economic reports, claims have been distorted by a harsh winter . Two weeks ago, claims jumped to their highest level since mid-December. Bad weather deterred some people from filing or caused a backlog because state governments were temporarily closed. A better way to gauge the trend in claims is the four-week average that reduces the effects of weather and other unusual factors. The monthly average posted a much smaller decline of 2,000 to end up at 336,500, and it's shown little change in 2014. Also, the government said continuing claims decreased by 8,000 to a seasonally adjusted 2.91 million in the week ended Feb. 22. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up to 349,000 from 348,000.
