The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the strength of the labour market.
Figures released Thursday morning by the U.S. Labor Department show initial claims for state unemployment benefits dropped 11,000 to a seasonally-adjusted 254,000 for the week ended Nov. 5. Claims for the prior week were unrevised.
It was the 88th consecutive week that claims remained below 300,000, a threshold associated with a healthy labour market, the longest stretch since 1970, when the labour market across the border was much smaller.
Economists had forecast first-time applications for jobless benefits falling to 260,000 in the latest week.
The four-week moving average of claims, which smooths out volatility, rose 1,750 to 259,750 last week. The number of people still receiving benefits after an initial week of aid increased 18,000 to 2.04 million in the week ended Oct. 29.
