Dow Jones Rallies as Jobless Claims Sink to 57-Year Low

The Dow Jones (DJIA) is set to open Thursday in the green following the release of new jobs data from the Department of Labor.

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For the week ended April 25, initial jobless claims fell by 26,000 to 189,000, below the consensus estimate of 212,000 and the lowest since 1969. Continuing jobless claims, which trail initial claims by a week, dropped by 23,000 to 1.785 million and were also below the estimate of 1.808 million. Initial jobless claims serve as a gauge of layoffs, while continuing jobless claims track the number of people receiving unemployment benefits and reflect ongoing unemployment.

*This is a developing story. Stay tuned for additional updates.*