Initial Claims Lowest Since 1969: Staffing Stocks In Focus

 | Apr 04, 2019 10:03PM ET

Americans filing for unemployment benefits declined for the third week in a row at March 2019 end. The latest U.S. Labor Department data revealed that seasonally adjusted initial claims for the week ended Mar 30 declined 10,000 from prior week’s revised level to 202,000. This is the lowest figure for initial claims since Dec 6, 1969. It also came below the consensus estimate of 217,000 and Reuters’ estimate of 216,000.

The four-week moving average, which is considered a better measure of labor market trends as it evens out the sharp fluctuations in weekly reports, declined 4,000 from the previous week’s revised average to 213,500 (the lowest level since Oct 6, 2018).

This was the 208th straight week in which filings stayed below the 300,000 threshold, the longest streak since 1970. Declining claims reflects the fact that the labor market continues to remain strong despite a slowdown in economic growth.

Labor Market Continues to Remain in Good Shape

The economy continues to create new jobs despite a record low jobless rate. Per a Original post

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