The U.S. four-week moving average of initial claims for unemployment insurance fell by 4,750 in the week ended April 5 to 316,250 from the previous week’s revised figure of 321,000, according to seasonally adjusted numbers released today by the U.S. Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week fell by 32,000 to a total of 300,000 from the previous week’s revised figure of 332,000. The last time initial claims were this low was May 12, 2007, when they were 297,000.

MarketWatch reports initial claims are now almost 14 percent lower compared to one year ago and they are down 21 percent compared to the same week two years earlier.