U.S. Jobless Claims Fall to New Low
May 3, 2018
New applications for U.S. unemployment benefits dropped to their lowest level in more than 48 years last week. Initial claims for unemployment benefits fell to a seasonally adjusted 209,000 for the week ended April 21, the lowest level since December 1969.
The unemployment rate is at a 17-year low of 4.1 percent, not far from the Federal Reserve’s forecast of 3.8 percent by the end of this year.
The Labor Dept. report also showed the number of people receiving benefits after an initial week of aid dropped 29,000 to 1.84 million in the week ended April 14. The four-week moving average of the so-called continuing claims declined 9,750 to 1.85 million, the lowest level since January 1974.