The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits fell to more than a 49-1/2-year low last week, pointing to sustained labor market strength.

According to the report, the initial claims for unemployment benefits decreased 5,000 to 192,000 for the week ended April 13, the lowest level since early September 1969. 

Economists had expected 205,000 new claims last week. 

Claims for the prior week were revised upwardly to 197,000 from the initial estimate of 196,000.

Meanwhile, the four-week moving average of claims dropped 6,000 to 201,250 last week, the lowest reading since November 1969.