The US four-week moving average of initial claims for unemployment insurance fell by 4,250 last week to a total of 279,500 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor. This is the lowest level for this average since May 6, 2000, when it was 279,250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended May 2 rose by 3,000 to a total of 265,000 from the previous week’s unrevised level.

Bloomberg reports the dearth of applications for unemployment benefits shows demand remains strong enough for employers to maintain staffing levels. Claims rose less than its median forecast of 47 economists, which called for 278,000 claims.

No special factors impacted this week’s initial claims.