US initial jobless claims fell by 1,000 in the week ended Mar. 9 to a total of 209,000, according to the US Department of Labor. The previous week’s level was revised downward by 7,000.

The Associated Press noted that claims remain at historically low levels, reflecting a thriving labor market even amidst elevated interest rates.

Meanwhile, the four-week moving average of claims declined by 500 to a total of 208,000. The previous week’s average was revised downward by 3,750.

The department said this week’s release reflects the annual revision to the weekly unemployment claims seasonal adjustment factors. It reported the seasonal adjustment factors used for the unemployment insurance weekly claims data from 2019 onward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised. It also reported that this year, the Bureau of Labor Statistics has introduced new models to seasonally adjust both the initial claims and continued claims.