U.S. monthly jobless claims lowest since 1973
The monthly average of claims, a more accurate gauge of labor-market trends, also fell by 10,250 to 246,750 to mark the lowest level since November 1973.
The economy has added millions of jobs in the past five years after a slow start to an economic recovery that began in the middle of 2009. The unemployment rate has fallen below 5% and many companies complain they cannot find enough skilled workers.
Initial claims have been under 300,000 for 98 straight weeks, a streak last replicated in 1970 and one that shows no sign of ending. ■