U.S. jobless claims fall 13,000 to 253,000
MARKETWATCH 8:35 AM ET 4/14/2016
Layoffs running at lowest level since early 1970s
The number of Americans who applied for unemployment benefits last week fell by 13,000 to 253,000, matching the lowest mark since the end of the Great Recession and sinking to a level last seen in 1973.
Economists polled by the MarketWatch had predicted initial jobless claims would total a seasonally adjusted 270,000 in the seven days stretching from April 3 to April 9.
The U.S. has generated millions of jobs over the past five years, putting many Americans back to work and keeping the economy on a slow but stable growth path in the wake of the devastating 2007-2009 downturn.
Many companies these days are not only reluctant to part with current employees, they complain it's harder to find enough qualified people to fill open positions.
The low level of claims is also a sign the U.S. economy was still adding jobs in April at a healthy clip. Low claims usually correlate with strong employment reports.
The average of new claims over the past four weeks, a less volatile measure, decllined by 1,500 to 265,000, the Labor Department said Thursday. That's also near a postrecession low.
Some 2.17 million people collected weekly unemployment benefits, known as continuing claims, in the seven days ended April 2. That was 18,000 lower compared to the prior week.
-Jeffry Bartash; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
04-14-160835ET
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