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U.S. Jobless Claims Fall by 5K

Applications for unemployment benefits south of the border fell in late July and remained near a 44-year low, highlighting the strength of a U.S. labour market showing no sign of waning.

Figures released Thursday by the U.S. Labor Department show initial jobless claims in the period running from July 23-29 declined by 5,000 to 240,000. New claims count people who apply for unemployment benefits after losing their jobs.

The average of new claims over the past month, which gives a more stable picture of layoff trends, also fell slightly to 241,750.

New applications for benefits have totaled less than 300,000 for 126 straight weeks, extending the longest streak since the early 1970s.

The government on Friday is expected to report the U.S. added 180,000 new jobs during July. Experts say the unemployment rate could also plumb a 16-year low of 4.3%.