By Jeffry Bartash
WASHINGTON (MarketWatch) - The number of people who applied last week for new unemployment benefits touched the lowest level since January 2008, falling by 18,000 to 324,000, the U.S. Labor Department said Thursday. Economists polled by MarketWatch had expected claims to rise to a seasonally adjusted 345,000 in the week ended April 27 from a revised 342,000 in the prior week. The average of new claims over the past month, which smoothes out weekly volatility, dropped by 16,000 to 342,250. That's the lowest level in six weeks. The government said there were no usual factors in the latest claims report. Claims often seesaw in the month after Easter because of seasonal quirks, but the effects usually fade by early May. Meanwhile, the government said continuing claims increased by 12,000 to a seasonally adjusted 3.02 million in the week ended April 20. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up 342,000 from an original reading of 339,000, based on more complete data collected at the state level.
