The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to labour market strength that could keep Federal Reserve interest rate hikes on the table this year.
Initial claims for state unemployment benefits dropped 7,000 to a seasonally-adjusted 262,000 for the week ended Feb. 13, the lowest reading since November, according to figures released Thursday by the U.S. Labor Department. The prior week's claims were unrevised.
Economists had forecast claims rising to 275,000 in the latest week.
The four-week moving average of claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 8,000 to 273,250 last week.
