Jobless Claims Drop 15,000 to 202,000

The number of Americans filing for unemployment benefits fell 15,000 to a seasonally adjusted 202,000 last week.

That is the lowest level of claims since April, according to data released by the Labor Department on Thursday. Economists had estimated 215,000 claims.

The prior week’s claims were revised up 1,000 to 217,000.

Jobless claims can jump around week to week. Economists see the monthly average of claims as a more reliable gauge of the labor market. This fell last week by 3,000 to 211,750.

The claims suggest that the labor market remains strong and is likely to continue to keep economic growth afloat. On Friday, the Labor Department will report on the growth of nonfarm payrolls in January. Economists have forecast around 160,000 in December, up from 145,000 in December.

The very low level of claims reflects a lack of layoffs in the U.S. economy, suggesting that the economy is working well for many Americans. This undermines claims by Democratic presidential hopefuls that Trump’s economy has only bolstered the fortunes of wealthier Americans.