US Jobless Claims Drop to Lowest Since 1973


The number of Americans filing for unemployment benefits was 247,000 in the week ended April 16th, a decrease of 6,000 from the previous week's unrevised level of 253,000, staying below market expectations of 263,000. It was the lowest reading since November 24, 1973 when it was recorded at 233,000.

This marks 59 consecutive weeks of initial claims below 300,000, the longest streak since 1973.

The 4-week moving average was 260,500, a decrease of 4,500 from the previous week's unrevised average of 265,000.

The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending April 9, unchanged from the previous week's unrevised rate. 

The continuing claims drawn by workers for more than a week (the advance number for seasonally adjusted insured unemployment) during the week ending April 9 was 2,137,000, a decrease of 39,000 from the previous week's revised level. This is the lowest level for insured unemployment since November 4, 2000 when it was 2,110,000. The previous week's level was revised up 5,000 from 2,171,000 to 2,176,000. The 4-week moving average was 2,168,500, a decrease of 10,750 from the previous week's revised average. This is the lowest level for this average since November 11, 2000 when it was 2,119,750. The previous week's average was revised up by 1,250 from 2,178,000 to 2,179,250. 

US Jobless Claims Drop to Lowest Since 1973


DOL | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/21/2016 1:54:00 PM