Unemployment benefits claims drop to lowest level in 49 years

 

Americans applying for unemployment benefits plummeted to their lowest level in more than 49 years last week.

First-time jobless claims fell to a seasonally adjusted 210,000 in the week ending Feb. 24, a drop of 10,000, which is the lowest level since Dec. 6, 1969 when it was 202,000, the Labor Department reported on Thursday.

The four-week average, which is less volatile than the weekly figure dipped to 220,500, a decrease of 5,000, the lowest level since Dec. 27, 1969 when it was 219,750.

The economy added 200,000 jobs in January and the unemployment rate held at 4.1 percent, the lowest level in 17 years.

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