WASHINGTON — Seasonally adjusted initial jobless claims fell 5,000 to 359,000 for the week ending March 24, the lowest level since April 19, 2008, when they were 352,000, the Labor Department reported Thursday.

The previous week’s level was revised to 364,000 from 348,000, based on new seasonal factors.

Continuing claims were down 41,000 to 3.340 million for the week ending March 17, the lowest since Aug. 9, 2008, when they were 3.330 million.

Economists estimated 350,000 claims and 3.350 million continuing claims.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.