US Jobless Claims Hit 189,000, 50-Year Low

The number of Americans filing initial claims for unemployment benefits dropped sharply to 189,000 in the week ended April 25, the lowest level in more than 50 years, according to Labor Department data released Thursday.

The figure marked a decline of 26,000 from the prior week's 215,000 and fell well below economist forecasts ranging from 212,000 to 215,000. Continuing claims, which track the total number of people receiving benefits, fell to 1.79 million in the week ended April 18, the lowest in two years and down 23,000 from the previous period. The four-week moving average of initial claims, a gauge that smooths weekly fluctuations, decreased to 207,500.

The report signals a resilient labor market despite announcements of job cuts at high-profile companies including Meta Platforms, Nike, Morgan Stanley, UPS, Amazon and others in tech and finance. Layoffs have remained subdued, reflecting what economists describe as a low-hire, low-fire environment where employers hesitate to reduce staff after pandemic-era hiring challenges. Significant declines in initial claims occurred in New York, California, Connecticut and Texas.

The data arrived amid broader economic pressures,...