In the week ending October 1, initial claims for unemployment insurance fell 5,000 from the previous week to 249,000—the second-lowest level since 1973. The four-week moving average, a less volatile gauge that helps even out short-run swings in the data, fell 2,500 to 253,500—the lowest average since December 1973. Jobless claims remained below 300,000 for 83 consecutive weeks, the longest streak since 1970.
