US initial jobless claims fell by 26,000 to 189,000 in the week ended April 25,
the lowest level in decades and well below expectations of 212,000, signaling
layoffs remain limited despite announced job cuts. Continuing claims dropped to
1.79 million, the lowest in two years, indicating fewer people are receiving
benefits. The data suggest a still-tight labor market with low firing activity.
Unadjusted claims also declined, led by a sharp drop in New York, with
additional decreases in California and Connecticut, reversing prior increases.
