Economic fears worsened last week, with the release of incremental negative data raising the specter of a soft patch. That said, there were some promising pieces of economic evidence too.

Claims (INJCJC) for U.S. unemployment benefits dropped last week to the lowest level in four years, adding to recent reports showing signs of health in the economy.

New U.S. claims for unemployment fell to the lowest levels in almost four years, according to figures released Thursday by the Labor Department.

For the week ending March 31, the level of new claims for unemployment came in at a seasonally adjusted level of 357,000, a decline of 6,000 from the previous week's revised average of 363,000.

Canada's unemployment rate unexpectedly fell in March as companies added full-time jobs, according to official data released Thursday.