U.S. Unemployment Claims Fell Sharply Last Week

The number of workers seeking unemployment benefits fell sharply last week, showing the job market could be stabilizing after layoffs edged higher earlier in the winter.

Initial weekly unemployment claims decreased by 111,000 to a seasonally adjusted 730,000 last week, the Labor Department said Thursday. It was the lowest weekly level of new claims since late November.

However, the latest figures came as storms disrupted business in parts of the country and at least one state appeared to adjust for attempted fraud filings, factors that could have thrown off the...