Jobless Claims Drop to Lowest Levels in 7 Years

It could signal stronger hiring this month

   

Jobless Claims Drop to Lowest Levels in 7 Years

On Thursday, the Labor Department said that the number of Americans filing for first-time unemployment benefits claims fell to a seasonally-adjusted 300,000 last week.

Jobs Newspaper Jobless Claims Drop to Lowest Levels in 7 YearsThat marked the lowest level of jobless claims in seven years. During the week ending on April 5, 32,000 fewer Americans filed for jobless benefits compared to the prior week. Last week’s jobless claims also fell well below the 320,000 new claims forecast by economists, the Wall Street Journal notes.

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A four-week moving average of jobless claims declined by 4,750 to 316,250. That marked the average’s lowest level since September.

The latest jobless claims data could foreshadow stronger hiring this month. Last week, the Labor Department reported that non-farm payrolls rose by 192,000 jobs in March, better than the prior month, but slightly below the 200,000 new jobs economists had expected.

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