Economic Report: U.S. jobless claims fall sharply to three-week low

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A ‘now hiring’ sign is posted in the window of a fast food restaurant on July 8, 2016 in San Francisco, California.

WASHINGTON (MarketWatch) — Initial claims for U.S. unemployment-insurance benefits fell sharply in the latest week signaling a continued strong labor market, according to government data released Thursday.

The number of people who applied for U.S. unemployment-insurance benefits fell by 19,000 to 238,000 in the week that ended April 29, the Labor Department reported. That’s the lowest level in three weeks.

Economists polled by MarketWatch had expected the government to report that initial claims for regular state unemployment-insurance benefits fell 12,000 to 245,000.

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