Initial jobless claims rose less than expected.
Claims rose to 257,000, below economists’ forecasts that claims would rise to 259,000.
This is the lowest level for this average since December 8, 1973.
Meanwhile, the 4-week moving average was 256,000, a 4,750 drop from the previous week’s revised average.
Claims have been below 300,000 for a whopping 60 straight weeks- the longest streak since 1973.
The previous week’s level was revised up by 1,000 to 248,000.