US jobless claims at 3-month low

The number of Americans filing new claims for jobless benefits hit a three-month low last week, suggesting some strength in a labor market that has been hobbled by severe weather.

Other data on Thursday showed a second straight monthly decline in factory orders in January, likely because unusually cold and snowy weather disrupted activity.

Initial claims for state unemployment benefits tumbled 26,000 to a seasonally adjusted 323,000, their lowest level since the end of November, the Labor Department said.

“Initial claims returned to a more normal level, consistent with healthy labor market conditions,” said Yelena Shulyatyeva, an economist at BNP Paribas in New York.