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Financial News: U.S. Jobless Claims Dip To Lowest Level In

U.S. Jobless Claims Dip To Lowest Level In Almost 50 Years

04/04/2019 - 09:05:00 (RTTNews)

(RTTNews) - With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended March 30th.

The report said initial jobless claims dipped to 202,000, a decrease of 10,000 from the previous week's revised level of 212,000.

The drop surprised economists, who had expected jobless claims to inch up to 216,000 from the 211,000 originally reported for the previous week.

With the unexpected decrease, initial jobless claims fell to their lowest level since hitting a matching number in December of 1969.

The Labor Department said the less volatile four-week moving average also edged down to 213,500, a decrease of 4,000 from the previous week's revised average of 217,500.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also slid by 38,000 to 1.717 million in the week ended March 23rd.

The four-week moving average of continuing claims dropped to 1,743,250, a decrease of 8,000 from the previous week's unrevised average of 1,751,250.

On Friday, the Labor Department is scheduled to release its highly anticipated report on the employment situation in the month of March.

Employment is expected to jump by 180,000 jobs in March after inching up by just 20,000 jobs in February, while the unemployment rate is expected to hold at 3.8 percent.

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