U.S. Jobless Claims Unexpectedly Dip To Lowest Level In Nearly 50 Years
First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended April 13th, according to a report released by the Labor Department on Thursday, with jobless claims falling to a nearly 50-year low.
The report said initial jobless claims dipped to 192,000, a decrease of 5,000 from the previous week’s revised level of 197,000.
Economists had expected jobless claims to rise to 205,000 from the 196,000 originally reported in the previous week.
With the unexpected decrease, initial jobless claims dropped to their lowest level since hitting 182,000 in September of 1969.
The Labor Department said the less volatile four-week moving average also slid to a nearly 50-year low of 201,250.
The four-week moving average dropped by 6,000 from the previous week’s revised level of 207,250, falling to its lowest level since hitting 200,500 in November of 1969.
Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also tumbled by 63,000 to 1.653 million in the week ended April 6th.
The four-week moving average of continuing claims fell to 1,712,500, a decrease of 22,750 from the previous week’s revised average of 1,735,250.
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