Jobless claims up slightly last week

Americans filed slightly more initial claims for unemployment benefits last week, but the total was below the recent average, the Labor Department said Thursday.

First-time claims totaled 291,000 on a seasonally adjusted basis for the week ending March 14, up 1,000 from the previous week's figure, which was revised up by 1,000.

The four-week moving average is 304,750, up about 2,000 from the previous week's revised average. That figure is more closely followed by economists because it smooths out volatility in the weekly numbers.

Weekly claims for unemployment insurance are a proxy for layoffs and if the number is declining, it's a gauge of the labor market's improving health. Claims have fallen sharply in the years since the recession. They averaged more than 417,000 a week in 2008 but 308,500 a week last year, according to Labor Department figures from data-provider Haver Analytics. So far in 2015, the weekly average is about 298,000.