U.S. jobless claims hit 259,000
Claims for the prior week were revised to show 3,000 more applications received than previously reported.
Claims have now been below 300,000, a threshold associated with a healthy labor market, for 99 consecutive weeks. That is the longest stretch since 1970, when the labor market was much smaller.
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 2,000 to 245,500 last week, the lowest since November 1973. ■