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Jobless claims drop
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January 20, 2000: 9:04 a.m. ET
Steep decline of 39,000 in new claims beats economists' forecasts
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NEW YORK (CNNfn) - The number of Americans filing new claims for unemployment benefits fell to 272,000 for the week ended Jan. 15, down a sharp 39,000 from the revised 311,000 the prior week, the government said Thursday.
Economists polled by Reuters had forecast about 295,000 initial claims for state benefits.
New claims have been near or below the 300,000 mark, a level consistent with a tight job market, since mid-January of last year.
The four-week moving average of claims, which
generally provides a more accurate picture of jobless trends, was at 292,000 for the Jan. 15 reporting week, down from a revised 294,000 the week before.
Continued claims fell to 2,150,000 for the week
ended Jan. 1, the latest data available, from a revised 2,167,000 the prior week.
Continued claims are at their lowest since 2,006,000 in the Dec. 3, 1988, week.
The U.S. four-week moving average has extended its under-300,000 run to 26 straight weeks, the longest such period run since July 29, 1972, through Jan. 5, 1974. 
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