WASHINGTON (dpa-AFX) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly fell to their lowest level in almost fifty years in the week ended January 19th.
The report said initial jobless claims slid to 199,000, a decrease of 13,000 from the previous week's revised level of 212,000.
The drop surprised economists, who had expected jobless claims to rise to 220,000 from the 213,000 originally reported for the previous week.
With the unexpected decrease, jobless claims fell to their lowest level since hitting 197,000 in November of 1969.
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