Jobless claims little changed, while impact from government spending cuts expected later this spring - MarketWatch
1. Initial jobless claims fell to 220,000, exceeding economists' expectations. 2. Claims based on actual filings dropped by 13,202 to 212,817. 3. Economists anticipate federal job cuts may reach 500,000 by October. 4. Lower job claims may prompt Federal Reserve to cut rates this year. 5. Stock indices opened lower, indicating market reaction to labor data.