US Jobless Claims Plunge to 189,000, Lowest Since 1969

Applications for US unemployment benefits plunged to the lowest level in decades, a sign that job-cut announcements have not yet meaningfully translated into layoffs.

Initial claims fell by 26,000 to 189,000 in the week ended April 25. according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 212,000 applications.