According to the Labor Department, last Wednesday’s report showed that unemployment claims submitted by jobless claimants fell to their lowest point in 52 years.

There were 199,000 new filings, an unprecedented number since Nov. 15, 1970, when 197,000 claims had been filed. This report beat Dow Jones’ estimates of 260,000.

The Labor Department didn’t indicate any specific factors that led to this dramatic drop, but that could signal a weakening job market since March 2020’s Covid-19 shock.

Other economic reports Wednesday morning showed that second quarter GDP growth was slightly revised to 2.1%. However, this was lower than the 2.2% estimate. In addition, durable goods orders dropped 0.5%, a worse result than expected for a gain of 0.2%.

This is news breaking. Keep checking back for more updates.