The US four-week moving average of initial claims for unemployment insurance fell to 216,000 last week, down 5,500 from the previous week’s unrevised average, the US Department of Labor reported. This is the lowest level for this average since Dec. 20, 1969, when it was 214,500.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended May 5 were unchanged from the previous week’s unrevised level of 211,000.

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

MarketWatch reported jobless claims are near the lowest levels ever recorded and probably can’t drop much further. Companies are very reluctant to fire workers or see them leave for greener pastures because it’s so hard to fill open positions. Its poll of economists had forecast initial claims to increase to 215,000.