Initial unemployment claims fell to 348,000 in the week ended March 10, a decrease of 5,000 from the previous week’s revised figure of 353,000, according to seasonally adjusted numbers released today by the U.S. Department of Labor.

The four-week moving average of initial claims, which reduces the volatility of the weekly numbers, was 355,000, a decrease of 1,250 from the previous week’s revised average of 356,250.