The number of Americans filing for unemployment benefits unexpectedly fell last week near a 43-year low, which experts call an indication of firmness in the stateside labour market, thus supporting an interest rate increase by the U.S. Federal Reserve this year.
Figures released Thusrday morning by the U.S. Labor Department indicated initial claims for state unemployment benefits declined 5,000 to a seasonally-adjusted 249,000 for the week ended Oct. 1. Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 257,000 in the latest week.
First-time claims were the lowest since April, when initial applications for aid were at levels not seen since November 1973.
The four-week moving average of new claims, seen as a better measure of labour market trends in the States as it smoothes out volatility, fell 2,500 to 253,500 last week, the lowest level since December 1973.
It's the 83rd consecutive week claims have remained below 300,000, which Americans view as indicative of a strong labour market.
