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Jobless claims average falls, initial claims drop to lowest level since 1969

April 26, 2018

The US four-week moving average of initial claims for unemployment insurance fell to 229,250 last week, down 2,250 from the previous week’s average, the US Department of Labor reported. The previous week’s average was revised up by 250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended April 21 fell to 209,000, down 24,000 from the previous week’s level, which was revised up by 1,000. This is the lowest level for initial claims since Dec. 6, 1969 when it was 202,000.

Claims-taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.

MarketWatch reported jobless claims continue to fall, though the latest decline may have been exaggerated by the timing of the Easter holiday and spring break. Most workers who want a job can find one and companies are still hiring at a rapid pace. Its poll of economists had forecast initial claims to total 230,000.