Claims For Jobless Benefits Near 5-Year Low [View all]

[Purveyor]

Source: USA TODAY

WASHINGTON -- Initial claims for unemployment benefits fell 16,000 to 339,000 the week ended April 20, the Labor Department said Thursday.

It's the second-lowest level in five years.

And the four-week moving average of claims, which smooths out weekly fluctuations, fell 4,500 to 357,500 last week.

The latest number is well below economists' consensus estimates of a seasonally adjusted 350,000, and suggest hiring may be improving from March's sluggish pace.

Last month, employers added just 88,000 nonfarm jobs to payrolls. That was a sharp drop from the previous four months, when an average 220,000 jobs a month were created.

Read more: http://www.usatoday.com/story/money/business/2013/04/25/claims-unemployment-benefits-fall-339k/2111799/