Jobless Claims Hit a 43-Year Low

The number of Americans filing for first-time state unemployment benefits last week dropped to the lowest point on record since the Nixon administration. Labor Department data released Tuesday show claims for the week of April 16 fell 6,000 to an unexpectedly small 247,000—a level not matched since late November 1973. Analysts say the drop reflects an increasingly strong job market and a relative lack of layoffs, despite broader worries about the strength of the U.S. economy.