Americans filing for unemployment benefits decreased more than expected last week, nearing a 42-year low as labour market conditions stateside continued to tighten in a boost to the U.S. economy.
The U.S. Labor Department said Thursday initial claims for state unemployment benefits dropped 5,000 to a seasonally-adjusted 267,000 for the week ended Dec. 19, not far from levels last seen in late 1973
Economists had forecast claims dipping to 270,000 in the latest week. Claims have been below 300,000, a threshold associated with a ebullient labour market, for 42 consecutive weeks, the longest stretch since the early 1970s.
The four-week moving average of claims, considered a better measure of labour market trends as it strips out week-to-week volatility, rose 1,750 to 272,500 last week.
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