Labor Department says: “In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week’s revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week’s revised average of 355,750.”
And thus continues your “slow recovery from a low base” labor market. Don’t believe the haters on the current economic outlook, but at the same time there’s a lot of waste and human misery out there that the central bank could be alleviating by stepping on the metaphorical gas. Note also that there’s an outside chance that teh US House of Representatives will bring all federally-funded surface transportation projects to a grinding halt in a couple of weeks. I am currently discounting that possibility, but it would be very bad.