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U.S. Jobless Claims Fall to 49-Year Low, Below All Forecasts
Katia Dmitrieva
April 04 2019, 8:30 AMApril 04 2019, 11:01 AM
(Bloomberg) -- Filings for U.S. unemployment benefits unexpectedly fell, dropping to the lowest since December 1969, as the labor market tightened further.
Jobless claims decreased to 202,000 in the week ended March 30, below all economist forecasts, Labor Department figures showed Thursday. The four-week average, a less-volatile measure, declined to 213,500, the lowest since October.
Key Insights
- The surprising drop in claims is an indication that the labor market continued to tighten, with employers holding onto workers and loathe to let them go. The level of continuing claims, which had moved up in recent months, fell the most since November in the week ended March 23.
- At the same time, the ADP Research Institute said this week that firms added the fewest workers in March since 2017, potentially signaling some weakness.
- A Bloomberg survey of economists had forecast a gain of 215,000
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