U.S. jobless claims rebound from 48-year low

The number of people filing for U.S. unemployment benefits increased by 21,000 in the week which ends March 3, rebounding from a 48-year low in the previous week, the U.S. Labor department said Thursday.

The Seasonally adjusted figure of initial jobless claims across the United States was 231,000. The number of claims dropped to 210,000 in the previous week, the lowest level since December 1969.

Although the number of jobless claims inched up last week, it was still below the 300,000 threshold, which is associated with a strong labor market.

With the unemployment rate at a 17-year low of 4.1 percent, the U.S. labor market is near full employment.

(ASIA APCIFIC DAILY)