New York

Initial Jobless Claims Ease; Continuing Claims Surge 

A slight breath of fresh air for the labor market, as first-time applications for state unemployment benefits eased 12,000 to a seasonally-adjusted 646,000 in the week ending March 14, the Labor Department said Thursday. Nonetheless, the total number of Americans on the benefits roll after drawing at least one week of aid mounted to a record 5.47 million, indicating that job openings are few and far between as companies continue to cut costs.