U.S. government figures showed Thursday the number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labour strength underscoring the economy's sustained momentum.
The U.S Labor Department revealed that initial claims for state unemployment benefits dropped 10,000 to a seasonally-adjusted 258,000 for the week ended Dec. 3. Claims for the prior week were unrevised.
Last week proved the 92nd straight week that claims were below 300,000, a threshold normally associated with a healthy labour market, and the longest stretch since 1970, when the labour market was much smaller.
Economists had forecast first-time applications for jobless benefits falling to 258,000 in the latest week. Claims hit a 43-year low in mid-November.
