The data from the Labor Department revealed the number of applications for unemployment benefits fell to a four-week low last week, pointing to still strong labor market conditions.

According to the report, the initial claims for unemployment benefits decreased 9,000 to 221,000 for the week ended March 16. 

Economists had expected 225,000 new claims last week. 

Claims for the prior week were revised upwardly to 230,000 from the initial estimate of 229,000.

Meanwhile, the four-week moving average of claims rose 1,000 to 225,000 last week.