CNN -- The number of people filing for first-time unemployment benefits fell last week for the second week in a row.

The Department of Labor says 330,000 people filed for first-time jobless claims in the week ending January 19th.

That's down 5,000 compared to the previous week and marks a new 5-year low.

Over the last two weeks, initial claims have plummeted by 45,000.

It's unclear why claims have fallen so dramatically.

But economists point to seasonal distortions in the data.