The US four-week moving average of initial claims for unemployment insurance fell to 269,500 last week, down 7,500 from the previous week’s average, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised slightly upward by 250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended June 4 were 264,000, down 4,000 from the previous week’s level, which was revised upward by 1,000.

This marks 66 consecutive weeks of initial claims below 300,000, the longest streak since 1973.

No special factors affected this week’s initial claims.

Bloomberg reports initial jobless claims unexpectedly fell last week and the number of Americans already receiving benefits tumbled to an almost 16-year low, consistent with a healthy labor market. Initial claims fell more than the median forecast in its survey of economists, which called for initial claims to edge up to 270,000.