Jobless claims remain at 4-year low

The number of Americans filing first-time claims for unemployment insurance payments last week held at a four-year low, more evidence that the labor market is improving.

Applications for jobless benefits were unchanged in the week ended Saturday at 351,000, the fewest since March 2008, Labor Department figures showed Thursday. The median projection in a Bloomberg News survey had called for 355,000 claims, marking the fourth straight week the figures have been better than forecast. The number of people on unemployment benefit rolls dropped to the lowest level since August 2008.

Fewer head-count reductions show companies may be growing more optimistic about the outlook for the U.S. economy. The recent drop in jobless claims may set the stage for bigger gains in hiring, which may bolster consumer confidence and drive spending.

"The strength we've had in the last few months is continuing," said Guy Berger, an economist at RBS Securities Inc. in Stamford, Conn., who had forecast 350,000 claims. "Barring any surprises, February looks like another good month for payroll growth."

The number of people continuing to collect jobless benefits dropped by 52,000 in the week ended Feb. 11 to 3.39 million. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs.

Those who've used up their traditional benefits and are now collecting emergency and extended payments decreased by about 69,000 to 3.41 million in the week ended Feb. 4.

Congress voted last week to maintain expanded unemployment benefits through Dec. 31.