US weekly jobless claims fall to lowest level since 1969

The number of Americans filing initial claims for unemployment benefits fell to 187,000 in the week ending July 18, marking the lowest level since 1969, according to data released by the US Department of Labor.

Initial jobless claims declined by 22,000 from the previous week's revised figure, dropping to 187,000, CE Report quotes Anadolu Agency.

The reading matched the level last recorded in 1969, representing the lowest weekly total in 57 years.

Economists had expected 211,000 new claims during the reporting period, making the latest figure significantly better than market forecasts.

The previous week's data was revised upward to 209,000 from the originally reported 208,000.

Meanwhile, the four-week moving average of initial jobless claims fell by 7,250 to 207,500.

Continuing unemployment benefit claims, which reflect the number of people already receiving benefits, declined by 2,000 to 1.796 million in the week ending July 11.

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