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U.S. Weekly Jobless Claims Drop More Than Expected

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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.

Market Extra: Traders see 8.6% U.S. inflation ahead of Fed’s May meeting as expectations may be turning entrenched

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