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US initial jobless claims drop by 4,000

Initial claims for U.S. unemployment benefits declined to 226,000 for the week ended March 10, slightly below Econoday's consensus estimate of 229,000 and down from the previous week's revised level of 230,000.

The four-week moving average decreased to 221,500 from 222,250 in the prior week.

The Labor Department said claims-taking procedures continue to be disrupted in Puerto Rico and the Virgin Islands.

The advance seasonally adjusted insured unemployment rate remained unchanged at 1.3% for the week ended March 3. Insured unemployment increased by 4,000 to 1,879,000 from the previous week's level, which was revised up by 5,000 to 1,875,000.