A recently released data showed that the number of Americans filing new claims for unemployment benefits has risen marginally this week. The small rise indicates that the labor market remained on solid footing despite slowing economic growth.

Another report released Thursday showed that manufacturing activity in the mid-Atlantic region has slowed down for the fourth consecutive month in March, while the future economic activity rose slightly in February. This was the lowest level that the manufacturing activity has hit in more than a year.

The data showed that the growth has slowed down in the first quarter. It was further weakened by harsh winters, a strong dollar, weaker overseas economies and labor disputes at West Coast ports.

The Federal Reserve on Wednesday acknowledged the moderation in growth, but it also maintained its optimistic view of the jobs market.

Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina, said, "First-quarter growth will be lackluster due to the weather effects and other transitory issues. We do expect overall economic activity to rebound in the coming months and quarters".

As per the Labor Department's records, the initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 291,000 for the week ended March 14. It has been told that the increase was in line with the expectations of the economists.

Claims have recoiled around for much of the winter as harsh weather caused a swing in filings. But the trend remained consistent with a strengthening jobs market.

The four-week moving average of claims rose 2,250 to 304,750 last week. On the other hand, prices for US treasuries were trading lower, while the dollar rose against some currencies.