New data released Thursday by the U.S. Department of Labor showed a steeper-than-expected decline in initial unemployment claims for the week ending April 25.
First-time claims for jobless benefits fell to 189,000, down by 26,000 from the prior week’s revised total of 215,000.
Economists had anticipated a more modest decrease, with forecasts pointing to 212,000 claims compared with the previously reported 214,000.
Meanwhile, the four-week moving average—often used to smooth out short-term fluctuations—also moved lower, dropping by 3,500 to 207,500 from a revised 211,000 in the previous week.