US jobless claims hit 84th consecutive weeks below 300K

The number of Americans filing for unemployment benefits remained at its 43-year low last week, official figures showed on Thursday. According to the US Department of Labor, initial jobless claims held at a seasonally adjusted 246,000 in the week ended October 8, while market analysts anticipated a slight increase to 252,000 during the reported period. 
The preceding week's figure was revised down to 246,000 from the originally reported reading of 249,000. It was the 84th consecutive week of initial claims remaining below the 300,000 level, the longest streak since 1973. The four-moving average of claims, considered a better measure of labor market trends, declined 3,500 to 249,250 last week, the lowest level since November 1973. 

The number of continuing claims decreased 16,000 to 2.05 million in the week ending October 1, the lowest level since June 2000, while its four-week moving average fell 25,750 to 2.07 million. In a separate report, the Department of Labor said import prices rose 0.1% month-over-month in September, following August's 0.2% drop and meeting analysts' expectations. On an annual basis, import prices declined 1.1% in the same month, compared to the previous month's 2.2% fall.

“These numbers are really remarkable given that the labor force is obviously a lot bigger than it was in 1973,” said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts. “They tell us of a relatively healthy labor market.”