The US four-week moving average of initial claims for unemployment insurance fell to 215,000 last week, down 5,500 from the previous week’s average, the US Department of Labor reported. The previous week's average was revised down by 250.

The four-week moving average smooths the volatility of the week-to-week numbers. Total initial claims for unemployment insurance for the week ended Jan. 19 fell to 199,000, down 13,000 from the previous week’s level, which was revised down by 1,000. This is the lowest level for initial claims since Nov. 15, 1969, when it was 197,000.

However, the drop could overstate the health of the labor market as claims for California, Kansas, North Dakota, Virginia, West Virginia and Hawaii were estimated last week because of Monday’s Martin Luther King holiday.

Economists polled by Reuters had forecast claims rising to 220,000 in the latest week.

Initial claims for unemployment insurance benefits filed by former Federal civilian employees rose by 14,965 to 25,419 in the week ended Jan. 12; claims by federal workers are reported separately and with a one-week lag. The US government shutdown began Dec. 22 and affects about 800,000 government workers. Federal workers will be paid retroactively when the shutdown ends, and those receiving jobless benefits will have to pay the money back.