U.S. Weekly Jobless Claims Drop More Than Expected
(RTTNews) - First-time claims for U.S. unemployment benefits fell to their lowest level in over 50 years in the week ended March 19th, according to a report released by the Labor Department on Thursday.
The report showed initial jobless claims slid to 187,000, a decrease of 28,000 from the previous week's revised level of 215,000.
Economists had expected jobless claims to edge down to 212,000 from the 214,000 originally reported for the previous week.
With the bigger than expected decrease, jobless claims dropped to their lowest level since hitting 182,000 in September 1969.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.