Applications for U.S. state unemployment insurance fell last week by more than forecast, showing that employers are retaining workers in an increasingly tight labor market.
Initial unemployment claims decreased by 5,000 to 166,000 in the week ended April 2, Labor Department data showed Thursday. The level matched the lowest in 54 years. The median estimate in a Bloomberg survey of economists called for 200,000 initial applications. The government’s report included annual revisions dating back to 2017.