11.04.201908:38:00UTC+00U.S. Weekly Jobless Claims Unexpectedly Drop To 196,000

First-time claims for U.S. unemployment benefits once again slid to their lowest level in nearly 50 years in the week ended April 6th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims fell to 196,000, a decrease of 8,000 from the previous week's revised level of 204,000.

The continued drop surprised economists, who had expected jobless claims to rise to 211,000 from the 202,000 originally reported for the previous week.

With the unexpected decrease, initial jobless claims fell to their lowest level since hitting 193,000 in October of 1969.