New Jobless Claims Less Than Expected

Initial filings for unemployment insurance dipped last week to 198,000 and remained close to their lowest level in more than 50 years, CNBC reports.

Wall Street Journal: “Applications for unemployment benefits, a proxy for layoffs, have trended near five-decade lows in recent weeks… Last week’s four-week moving average, which smooths out volatility, fell to the lowest level since October 1969.”