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Weekly jobless claims fall

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Weekly jobless claims fall

Weekly claims at lowest since 1973.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended April 9 were 253,000, a decrease of 13,000 from the previous week's revised figure. 

Analysts had expected claims to come in at 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 1,500 to 265,000.

Claims overall have stayed below the 300,000 level for 58 consecutive weeks, which indicates a strong labor market in the US, despite what appears to be a significant slowdown in economic growth in the US and globally.

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