2018.04.2608:38:00UTC+00U.S. Weekly Jobless Claims Drop More Than Expected

First-time claims for U.S. unemployment benefits fell to their lowest level in nearly five decades in the week ended April 21st, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims dropped to 209,000, a decrease of 24,000 from the previous week's revised level of 233,000.

Economists had expected jobless claims to edge down to 230,000 from the 232,000 originally reported for the previous week.

With the much bigger than expected decrease, jobless claims slid to their lowest level since hitting 202,000 in December of 1969.