The number of Americans initially applying for unemployment aid fell to a 43-year low last week, as the whole job market kept improving.
In the week ending November 12, the advance figure of seasonally adjusted initial claims for jobless benefits was 235,000, a decrease of 19,000 from the unrevised level of the previous week, the lowest level since November 24, 1973, said the U.S. Labor Department Thursday.
The four-week moving average, which helps smooth out week-to-week volatility fell 6,500 from the previous week' s revised average to 253,500.
This marks 89 consecutive weeks of initial claims below 300,000, a benchmark for real job growth or loss in the economy, the longest streak since 1970, said the Labor Department.
Meanwhile, the advance figure of seasonally adjusted insured unemployment during the week ending November 5 decreased 66,000 from the previous week to 1,977,000, the lowest level since April 15, 2000.
The Labor Department also revised up job gains in September and August, making payroll growth have averaged 176,000 per month over the past 3 months.
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