Jobless Claims Unexpectedly Plunge to New Post-1969 Record
Jobless claims fell last week even further to a new post-1969 record of 203,000.
This is the lowest level for initial claims for state unemployment benefits since December 6, 1969 when it was 202,000.
The 4-week moving average, considered a better gauge of the labor market because it smooths out week-to-week volatility, fell to 209,500 from 212,250. This is the lowest level for this average since December 6, 1969 when it was 204,500.