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Jobless claims tumble
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April 6, 2000: 9:04 a.m. ET
Weekly 260,000 figure, reflecting tight market, lowest in more than 26 years
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NEW YORK (CNNfn) - The number of Americans filing new claims for unemployment benefits fell 6,000 to 260,000 for the week ended April 1, the lowest figure in more than 26 years, the U.S. Department of Labor said Thursday.
The claims are the lowest since a showing of 256,000 for the week ended Dec. 1, 1973.
Economists polled by Reuters had forecast 270,000 initial claims for the period. A weekly reading below 300,000 symbolizes a tight labor market.
The four-week moving average of claims, which generally provides a more accurate picture of jobless trends, dropped to 262,750 for the reporting period from 268,000 the week before. The four-week average reported this period is the lowest since the 256,750 in the week ended Dec. 15, 1973.
 Continued claims were reported at 2,048,000 for the week ended March 25, the latest data available. This was up from a revised figure of 1,978,000 for the previous week.
Two states reported a decrease in claims of more than 1,000 in the week ended March 25, the latest period for which the data are available. Texas had the largest decline with 2,314 fewer claims, followed by California with a decrease of 1,881.
Georgia said it had more layoffs in the textile industry. Texas said it had fewer layoffs in the transportation, electrical equipment, trade and service industries. 
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