The US four-week moving average of initial claims for unemployment insurance fell to 205,750 last week, down 2,250 from the previous week’s unrevised average, the US Department of Labor reported. This is the lowest level for this average since Dec. 6, 1969, when it was 204,500.

The four-week moving average smooths the volatility of the week-to-week numbers. Total initial claims for unemployment insurance for the week ended Sept. 15 fell to 201,000, down 3,000 from the previous week’s unrevised level; this is also lowest level since Nov. 15, 1969, when it was 197,000.

Economists polled by Reuters had forecast claims rising to 210,000 in the latest week. The storm surge caused by Hurricane Florence in the Carolinas contributed to the low level of claims last week, MarketWatch reported. Applications in South Carolina fell by an unusually large number, indicating fewer people filed claims due to government office closures and lack of power.

Nonetheless, layoffs in the US have been falling steadily for eight years and they soon could drop below 200,000 for the first time in 50 years.