US jobless claims fall to lowest level since 1973

Washington, July 23 (IANS/EFE) New claims for unemployment benefits in the US fell by 26,000 last week to 255,000, the lowest level since 1973, the Labor Department said on Thursday.

The figure surprised economists, who had forecast a total of 282,000 claims for the week that ended on July 18.

The rolling four-week average of initial jobless claims, seen as a more reliable measure of labour market trends, fell by 4,000 last week to 278,500.

That average has remained around or below 300,000 since last September, reflecting a recovery in the labour market and growing business confidence. Continuing jobless claims decreased by 9,000 to 2.2 million in the week ending on July 11.

The official unemployment rate dropped two-tenths of a point in June to 5.3 percent, the lowest level in seven years, as the economy added 223,000 new jobs.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here