US initial jobless claims fall to almost 43-year low

The number of Americans initially applying for unemployment aid fell to 235,000, near a 43-year low level, as job market kept improving.

In the week ending December 31, the advance figure of seasonally adjusted initial claims for jobless benefits was 235,000, a decrease of 28,000 from the revised level of the previous week, said the U.S. Labor Department on Thursday.

This is the second lowest level since November 1973, as the initial jobless claims once fell to 233,000 in mid-November last year.

The four-week moving average, which helps smooth out week-to-week volatility decreased 5,750 from the previous week' s revised average to 256,750.

This marks 96 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 December 24 rose 16,000 from the previous week to 2,112,000.

U.S. Federal Reserve Chair Janet Yellen said that after years of a slow economic recovery, the United States are entering the strongest job market in nearly a decade last month.

Total nonfarm payroll employment rose by 178,000 in November, and the jobless rate went down from October's 4.9 percent to 4.6 percent, the lowest level since August, 2007, said the Labor Department earlier December.

source: Xinhua