The number of Americans filing new claims for unemployment benefits fell last week to its lowest level in seven years, beating economists’ estimate and reflecting an improved outlook for the job market.
For the week ending April 5, the seasonally adjusted initial claims fell 32,000 from the previous week to 300,000, the Labor Department said Thursday. The last time the number dipped below 300,000 was in May 12, 2007.
Economists surveyed by Bloomberg had estimated a new claims total of between 310,000 to 330,000.
The 4-week moving average, which is a less volatile indication of the job market outlook, fell 4,750 to 316,250.
To read this article in its entirety visit the USA Today.