Bloomberg by the Numbers: 364

People seeking employment fill out applications at a job fair on April 23, 2014 in Detroit.

Photograph by Joshua Lott/Getty Images

People seeking employment fill out applications at a job fair on April 23, 2014 in Detroit.

The 297,000 people making initial unemployment insurance claims in the week ended May 10 was the lowest in 364 weeks — since May 2007.

First-time jobless claims fell 24,000 from the previous week, according to Labor Department statistics released yesterday. The less-volatile four-week average, which smooths out anomalies in the weekly readings, fell to 323,250 from 325,250 the week before.

The drop in jobless claims, coupled with consumer prices rising by the most in 10 months, are “adding to signs the economy is gaining momentum,” Bloomberg’s Lorraine Woellert and Victoria Stilwell reported.

During the past seven years, first-time jobless claims peaked at 665,000 in late March 2009, when the economy was buffeted by the worst economic downturn since the Great Depression.

 

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