Initial Jobless Claims Plunge To 15-Year Low

Initial jobless claims fell sharply last week to 265,000.

This is the lowest level for initial jobless claims since April 15, 2000, according to the Department of Labor.

Expectations were for claims to come in at 300,000, down slightly from last week's 307,000 number. Last week's number was revised up slightly to 308,000.

The DoL said that last week's number was no impacted by any special factors.

Last week's report was down from the prior week but missed expectations for a 300,000 print, though Ian Shepherdson at Pantheon Macro said that seasonal adjustments impacted the number and that the trend in claims is closer to 290,000.

More to come ...