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Weekly Jobless Claims Hit Lowest Level In 15 Years

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Weekly unemployment claims ticked up a tad recently, but their four-week moving average hit the lowest level in 15 years, according to the government.

Claims in the week ended May 2 rose by 3,000 to 265,000.

But the four-week moving average of 279,500 claims fell by 4,250 from the previous week. The average last hit such a relatively low level on May 6, 2000, when it was 279,250, according to the U.S. Department of Labor.

Wall Street economists had expected about 279,000 new claims for the recent week, according to the Associated Press.

The official unemployment rate of 1.7 percent for the week ended April 25 was unchanged from the previous week.

A privately sponsored employment survey said Wednesday that employment rose 169,000 last month, versus expectations of about 200,000.

Monthly non-farm employment numbers for April are expected Friday from the U.S. Bureau of Labor Statistics.

Posted-In: News Econ #s


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