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Jobless Claims Plunge by More than Expected to Near 49 Year Low

The number of Americans filing for unemployment benefits fell by more than expected last week

Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended Sept. 29, the Labor Department said Thursday.

Hurricane Florence, which hit North Carolina and South Carolina last month, affected claims, according to the Labor Department. The largest increases in initial claims for the week ending September 22 was in North Carolina. Claims in South Caroline rose by 2,830, the third largest rise behind Kentucky.

Economists had forecast claims falling by 1,000 to 213,000 in the latest week. A year ago there were 265,000 new claims.

Claims were new the recent low of 202,000, hit during the week ended September 15. That was the lowest level since November 1969.

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