“Thursday’s report suggests the labor market remains strong, leaving businesses reluctant to let workers go. That has spurred some of the fastest wage growth in the current business cycle.”

Jobless claims dropped to lowest level since 1969 last week

By Harriet Torry and Paul Kiernan

The Wall Street Journal

April 4, 2019

The number of Americans filing applications for new unemployment benefits fell last week to the lowest level in half a century, the latest sign of a tight labor market.

Initial jobless claims … decreased by 10,000 to a seasonally adjusted 202,000 in the week ended March 30, the Labor Department said Thursday.

That was the lowest level for initial claims since Dec. 6, 1969, when the U.S. workforce and population were much smaller than they are today.

Economists surveyed by The Wall Street Journal expected 218,000 new claims last week. Claims for the previous week were revised to 212,000 from an initial reading of 211,000.

The four-week moving average of claims, a steadier measure, fell last week by 4,000 to 213,500.

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