Jobless Claims Drop to Lowest Level Since 1969
The number of Americans seeking unemployment benefits dropped to a 49 1/2 -year low last week, according to CNBC.
CNBC reports that “Initial claims for state unemployment benefits fell 8,000 to a seasonally adjusted 196,000 for the week ended April 6, the lowest level since early October 1969. Claims have now declined for four straight weeks. Data for the prior week was revised to show 2,000 more applications received than previously reported.”
Economists had initially forecast that claims would rise to 211,000 last week.
“The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 7,000 to 207,000 last week, the lowest level since early December 1969,” writes the news outlet.
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