FXStreet (Mumbai) – The US labor department data released on Thursday showed the first time applications for unemployment benefits fell last week, which underscores the continuing improvement in the labor market despite turmoil in the global economy.
Jobless claims stay below 300K for the 22nd consecutive week
The initial jobless claims fell by 6,000 as expected, to 275,000 in the week ended Sept. 5. The 255,000 reading two weeks earlier was the lowest since November 1973. The four-week average of claims, which provides a more accurate picture of the labor market strength, was little moved at 275,750 last week.
The continuing claims by 1,000 to 2.26 million in the week ended Aug. 29.
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