"Initial claims have been consistently falling since September and have reached levels that should be consistent with solid payroll gains"
- Stephen Stanley, chief economist of Pierpont Securities
The number of Americans claiming for unemployment insurance payments fell to 358 thousand last week from 373 thousand in the week ended January 31, said the Department of Labor on Thursday.
"The recent positive momentum over the past two months is being sustained," said Millan Mulraine, a senior U.S. strategist at TD Securities in New York.
"If we stay within this range, then we should see employment growth pick up."
"It does look like with these numbers that the labor market is on a positive footing, which is good to see. Job creation is probably going to be what keeps this recovery alive. Things do seem to be holding up somewhat better than we had expected," said Sean Incremona, an economist at 4CAST in New York.
"Initial claims have been consistently falling since September and have reached levels that should be consistent with solid payroll gains," said Stephen Stanley, chief economist of Pierpont Securities.
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