The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labour market across the border remained on solid footing despite slowing economic growth and a stock market rout.
Initial claims for state unemployment benefits declined 16,000 to a seasonally-adjusted 269,000 for the week ended Feb. 6, the U.S. Labor Department said on Thursday. The prior week's claims were unrevised.
Economists had forecast claims slipping to 281,000 in the latest week. The drop last week pushed down claims to near their post-recession lows around 256,000, pointing to very low layoffs despite an uncertain economic outlook and equities turmoil.
The four-week moving average of claims, which is considered a better measure of labor market trends as it smooths week-to-week volatility, fell 3,500 to 281,250 last week.
Claims have now been below the 300,000 threshold, which is associated with strong labour market conditions, for 49 straight weeks - the longest spell since the early 1970s.
