Those Americans filing for unemployment benefits are growing fewer in number, falling more than expected last week, their numbers touching their lowest level in nearly five months, suggesting another month of strong job growth.
Figures released Thursday by the U.S. Labor Department revealed that initial claims for state unemployment benefits dropped 15,000 to a seasonally-adjusted 233,000 for the week ended July 15.
That was the lowest level since February, when claims fell to 227,000, the best reading since March 1973.
Data for the prior week was revised to show 1,000 more applications received than previously reported. Economists had forecast claims falling to 245,000.
It was the 124th straight week that claims remained below 300,000, a threshold associated with a robust labour market, the longest such stretch since 1970, when the labour market was smaller. The labour market stateside is near full employment, with the jobless rate at 4.4%.
