US Recurring Jobless Claims Fall to Almost Two-Year Low (1)

Recurring applications for US jobless benefits fell to the lowest level in almost two years, adding to evidence of stabilization in the labor market.

Continuing claims, a proxy for the number of people receiving benefits, fell to 1.79 million in the week ended March 28, the least since May 2024 and below all estimates in a Bloomberg survey. Initial claims rose to 219,000 in the week ended April 4.

Thursday’s figures point to a labor market still in a “low-hire, low-fire” environment, with claims near historically low levels. The government’s monthly report on employment showed ...