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US jobless claims tumble

Initial jobless claims, a sign of the pace of layoffs, dropped by 18,000 to 259,000 in the week ending March 5, the Labor Department said, the lowest level since mid-OctoberNew claims for US unemployment insurance benefits tumbled last week to nearly a five-month low, official data showed Thursday, adding evidence of a tightening jobs market. Initial jobless claims, a sign of the pace of layoffs, dropped by 18,000 to 259,000 in the week ending March 5, the Labor Department said, the lowest level since mid-October. The Labor Department said there were no special factors affecting the data.

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